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The main financial statements of a business include:
A) Balance Sheet,Profit & Loss Statement,and the Statement of Cash Flows
B) Tax Return,Balance Sheet,Profit & Loss Statement,and the Statement of Cash Flows
C) Balance Sheet,Profit & Loss Statement,and Notes to the Financial Statements
D) Tax Return,Statement of Cash Flows,and Balance sheet
Financial Statements
Documents that provide an overview of a company's financial condition in both short and long term.
Statement of Cash Flows
A financial report that provides aggregated data regarding all cash inflows a company receives from its ongoing operations and external investment sources, as well as all cash outflows that pay for business activities and investments during a given period.
Profit & Loss Statement
A financial report that shows a company's revenues, expenses, and profits or losses over a specific period of time.
- Grasp the fundamental accounting principles underlying the balance sheet, profit and loss statement, and statement of cash flows.
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Learning Objectives
- Grasp the fundamental accounting principles underlying the balance sheet, profit and loss statement, and statement of cash flows.
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