BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is NOT a financial statement
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Income Statement
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General Journal
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Balance Sheet
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Cash flow statement
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Explanation:
Detailed explanation-1: -Explanation: Trial Balance is not a financial statement. Trial Balance is a list of closing balances of ledger accounts on a certain date and is the first step towards the preparation of financial statements.
Detailed explanation-2: -The correct answer to the given question is b. Circular analysis. There is no method called circular analysis in financial statement analysis.
Detailed explanation-3: -The four types of financial statements include Balance Sheet, Cash Flow Statement, Income Statement, and Retained Earnings Statement. Each report helps to identify any anomalies, inconsistencies, or trends that may require your attention.
There is 1 question to complete.