Which of the following is not one of the four financial statements? (2024)

Which of the following is not one of the four financial statements?

Solution Summary: The author explains that the Audit Report is not one of the four basic financial statements. The balance sheet, income statement, statement of retained earnings, and cash flow statement are the other options.

What are the 4 financial statements?

Which is not one of the 4 types of financial statements?

The audit report is not one of the four basic financial statements.

Which of the following are the 4 basic financial statements?

For-profit businesses use four primary types of financial statement: the balance sheet, the income statement, the statement of cash flow, and the statement of retained earnings.

What are the four 4 elements of financial statement?

Financial statements can be divided into four categories: balance sheets, income statements, cash flow statements, and equity statements.

What are the 4 basic financial statements in order of preparation?

The four financial statements (in order of preparation) are the income statement, statement of retained earnings (or statement of shareholders' equity), balance sheet, and statement of cash flows.

What are the 5 sets of financial statements?

Which of the following is not a financial statement?

Trial Balance" is NOT a financial statement.

Which of the following statements is not one of the financial statements?

Explanation for correct answer:

Statement of owner's investments is not one of the financial statements.

Which is not one of the three main financial statements?

Experts have been vetted by Chegg as specialists in this subject. The statement of retained earnings is NOT one of the three primary financial statements.

What are the 3 main financial statements called?

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.

Which of the following are the basic financial statements except?

Correct answer : Option (e) Statement of Cash Flows is the correct answer because the basic financial statements include Income Statement, Statement of Retained Earnings, Balance Sheet, and Statement of Cash Flows, but does not include the Statement of Changes in Assets.

What are the four types of ratio analysis?

In general, there are four categories of ratio analysis: profitability, liquidity, solvency, and valuation. Common ratios include the price-to-earnings (P/E) ratio, net profit margin, and debt-to-equity (D/E).

What are the basics of financial statements?

Financial statements are written records that illustrates the business activities and the financial performance of a company. In most cases they are audited to ensure accuracy for tax, financing, or investing purposes.

What is the fourth 4th step in financial statement analysis?

4. Move on to More Advanced Work. Finally, she is ready to move on to more advanced work, which means choosing more complex financial ratios alongside scenario analysis, stress tests, margin of safety calculations, discounted cashflow valuations, and industry or target benchmarking.

What is an example of a financial statement?

The first of our financial statements examples is the cash flow statement. The cash flow statement shows the changes in a company's cash position during a fiscal period. The cash flow statement uses the net income figure from the income statement and adjusts it for non-cash expenses.

What is the correct order of the financial statements?

What are the complete set of financial statements?

The standard requires a complete set of financial statements to comprise a statement of financial position, a statement of profit or loss and other comprehensive income, a statement of changes in equity and a statement of cash flows.

What four statements are contained in most annual reports?

The four financial statements contained in most annual reports are: (1) balance sheet; (2) income statement; (3) cash flow statement; and (4) statements of shareholders' equity. The balance sheet provides an overview of company assets and liabilities. The income statement provides an overview of sales and expenses.

What are the 5 steps of financial reporting?

Defining the accounting cycle with steps: (1) Financial transactions, (2) Journal entries, (3) Posting to the Ledger, (4) Trial Balance Period, and (5) Reporting Period with Financial Reporting and Auditing.

What are the golden rules of accounting?

What are the Golden Rules of Accounting? 1) Debit what comes in - credit what goes out. 2) Credit the giver and Debit the Receiver. 3) Credit all income and debit all expenses.

What is another name for the financial statement?

Overview: The balance sheet - also called the Statement of Financial Position - serves as a snapshot, providing the most comprehensive picture of an organization's financial situation.

Which of the following is not one of the financial statements that must be produced?

Answer and Explanation:

The statements of activities are not one of the statements that a company is mandated to prepare. The statements of activities would indicate the activities that the firm has been engaged in.

Which of the following is not included on an income statement?

The income statement includes revenue, expenses, gains and losses, and the resulting net income or loss. An income statement does not include anything to do with cash flow, cash or non-cash sales.

Are there 3 or 4 financial statements?

For-profit primary financial statements include the balance sheet, income statement, statement of cash flow, and statement of changes in equity.