Asked by Anny karoline souza lucena on May 16, 2024
Verified
Has three sections: operating, investing and financing
A) Income statement
B) Balance sheet
C) Statement of owner's equity
D) Statement of cash flows
Financial Statement
A financial statement is a formal record of the financial activities and position of a business, person, or other entity, presenting the results of operations and financial status over a period.
Investing
The act of allocating resources, usually money, with the expectation of generating an income or profit.
Operating
Refers to the day-to-day activities and core functions directly related to a company's primary business operations, such as sales and service delivery.
- Comprehend the function and structure of the four main financial statements.
Verified Answer
IJ
ibette jimenezMay 19, 2024
Final Answer :
D
Explanation :
The statement of cash flows has three sections: operating, investing, and financing. The income statement shows revenues and expenses over a period of time, the balance sheet shows the assets, liabilities, and equity at a point in time, and the statement of owner's equity shows the changes in the owner's equity over a period of time.
Learning Objectives
- Comprehend the function and structure of the four main financial statements.