Which of the following is not one of the three basic financial statements required by Accounting Standards for Private Enterprises (ASPE)?
A) Income Statement
B) Statement of Retained Earnings
C) Statement of Cash Flows
D) Balance Sheet

Question

Quizplus · Accepted Answer

The three basic financial statements required by Accounting Standards for Private Enterprises (ASPE) are income statement, balance sheet, and statement of cash flows. The statement of retained earnings is not one of the three basic financial statements, although it is often included as a supplemental statement.

Which of the Following Is Not One of the Three