Financial statements with data for two or more successive accounting periods placed in columns side by side,sometimes with changes shown in dollar amounts and percentages,are
A)Cost statements
B)Controlling statements
C)Successive statements
D)Comparative statements
E)Position statements

Question

Quizplus · Accepted Answer

Financial statements with data for two or more successive accounting periods placed in columns side by side, sometimes with changes shown in dollar amounts and percentages, are called comparative statements. The purpose of these statements is to allow for easy comparison of the financial performance of a company over time. By showing changes in dollar amounts and percentages, users of the statements can evaluate how the company has performed in terms of revenue, expenses, and profitability from one period to the next.

Financial Statements with Data for Two or More Successive Accounting