The three key financial statements of a business are the:
A)revenue summary,expense summary,and consolidation statement.
B)ledger,journal,and trial balance.
C)balance sheet,income statement,and cash flow statement.
D)cash budget,capital budget,and master budget.

Question

Quizplus · Accepted Answer

The balance sheet shows the financial position of the business at a specific point in time, the income statement shows the financial performance over a period of time, and the cash flow statement shows the cash inflows and outflows of the business during a specific period. These three financial statements are crucial in assessing the financial health of a business. Option A, B, and D are incorrect as they do not represent the three key financial statements of a business.

The Three Key Financial Statements of a Business Are The