In filing its financial statements with the SEC,a company must tag five basic financial statements,which include a balance sheet,income statement,statement of comprehensive income,statement of cash flows and statement of stockholder's equity.

Question

Quizplus · Accepted Answer

This statement is true. As per the mandate of the SEC, a company filing financial statements must tag five basic financial statements which include a balance sheet, income statement, statement of comprehensive income, statement of cash flows and statement of stockholder's equity. This tagging is essential for easier analysis, retrieval and comparison of information.

In Filing Its Financial Statements with the SEC,a Company Must