Interim statements are:
A) summary statements.
B) prepared by junior staff when the accountant is busy.
C) prepared between the annual reports, usually half-yearly, quarterly or monthly.
D) used by creditors to deal with an emergency.

Question

Quizplus · Accepted Answer

Interim statements are prepared between the annual reports and are usually half-yearly, quarterly or monthly. They provide updates on the company's financial position to shareholders, investors, and other stakeholders. Option A is not specific enough, option B is not always true, and option D is incorrect.

Interim Statements Are