which of the following is not one of the four basic financial statements? course hero

What financial statements are included under the heading of standard report?

Standard reports such as cash flow statement, profit, and loss or income statements, and the balance sheet are included under this heading. Which of the following is not one of the four basic financial statements?

What is a financial statement?

Financial statements refer to the written records that detail the financial situation of any given business. Standard reports such as cash flow statement, profit, and loss or income statements, and the balance sheet are included under this heading.

What is the difference between a financial statement review and audit?

Reviewing a financial statement is not as reliable or thorough as conducting an audit but costs less, thus being more appealing for the entity required to cover the cost. A certified public accountant (CPA) is required to prepare this type of financial statement with much of the information being verified.

Which of the following is not one of the four financial statements?

The correct option is (c) Retained earnings statement.

Which of the following is not a basic financial statement?

A revenue statement is not a basic financial statement.

Which of the following can be found on the statement of cash flow?

The statement of cash flows shows the effects on cash of a company's operating, investing, and financing activities. The statement of cash flows reports a firm's major sources of cash receipts and major uses of cash for a period of time.

What are the 4 basic financial statements?

They are: (1) balance sheets; (2) income statements; (3) cash flow statements; and (4) statements of shareholders' equity.

What are the 4 parts of an income statement?

The income statement shows a company's expense, income, gains, and losses, which can be put into a mathematical equation to arrive at the net profit or loss for that time period.

Which one of the following items is not generally used in preparing a statement of cash flows?

Answer and Explanation: The correct answer is a. Adjusted trial balance. Adjusted trial balance is not generally used in preparing a statement of cash flows.

Which one of the following is not true about cash flow statement?

The correct answer is option (A). The Statement of Cash Flows does not need to be completed first, in order for the other financials to be linked, this is not a true statement.

Which of the following financial statements shows the major types of business activities that caused a company's cash to increase or decrease during the accounting period?

Knowledge Check 01The statement of cash flows shows the major types of business activity that caused a company's cash to increase or decrease during the accounting period.

Which of the following is also a required financial statement?

The income statement, balance sheet, and statement of cash flows are required financial statements. These three statements are informative tools that traders can use to analyze a company's financial strength and provide a quick picture of a company's financial health and underlying value.

Which one of the following items is not generally used in preparing a statement of cash flows?

Answer and Explanation: The correct answer is a. Adjusted trial balance. Adjusted trial balance is not generally used in preparing a statement of cash flows.

What does GAAP stand for?

Generally Accepted Accounting PrinciplesGenerally Accepted Accounting Principles (GAAP or US GAAP) are a collection of commonly-followed accounting rules and standards for financial reporting.

Which of the following statements best describe a money market mutual fund?

​Which of the following statements best describes a money market mutual fund? It pools funds from many investors and uses these funds to purchase very safe, highly liquid securities. ​The two primary sources of equity financing are: ​stockholder investments and retained earnings.