Which of the following is not one of the formal financial statements that is made available to all users of the financial statements.
A) Trial Balance
B) Income Statement
C) Statement of Owner's Equity
D) Balance Sheet

Question

Quizplus · Accepted Answer

While the trial balance is an important tool for the accountant to ensure that the debits and credits are in balance, it is not a formal financial statement that is typically made available to all users of the financial statements. The income statement, statement of owner's equity, and balance sheet are the three primary financial statements that are presented to stakeholders.

Which of the Following Is Not One of the Formal