Financial statements are prepared after an entity's transactions are analyzed and recorded.Which of the following reports is one of the required financial statements?
A) Statement of cash flows
B) Statement of return on assets
C) Statement of expenditures
D) Expense statement

Question

Quizplus · Accepted Answer

The statement of cash flows is one of the required financial statements, which shows the inflows and outflows of cash during the accounting period. The other options listed are not one of the required financial statements.

Financial Statements Are Prepared After an Entity's Transactions Are Analyzed