GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the financial statements below doesn’t belong to the three main Financial Statements?
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Balance Sheet
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Statement of Operations
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Income Statement
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Statement of Cashflows
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Explanation:
Detailed explanation-1: -The income statement, balance sheet, and statement of cash flows are required financial statements. These three statements are informative tools that traders can use to analyze a company’s financial strength and provide a quick picture of a company’s financial health and underlying value.
Detailed explanation-2: -Answer and Explanation: The correct option is (c) Retained earnings statement.
Detailed explanation-3: -Trial balance is not part of financial statements.
Detailed explanation-4: -The elements of the financial statements will be assets, liabilities, net assets/equity, revenues and expenses.
There is 1 question to complete.