Uses and Importance of Financial Statements

Under which line item of the financial statements following items will be shown:
(i) Sales;

(ii) Loss on Sale of Vehicle;

(iii) Debentures;

(iv) Unamortised Loss on Issue of Debentures (to be written off within 12 months of the date of Balance Sheet);

(v) Encashable Leave Payable at the Time of Retirement;

(vi) Tax Reserve;

(vii) Carriage on Purchases of Stock-in-Trade; and

(viii) Telephone and Internet Expenses?

Short Answer Question

State the importance of financial statements to
   (i) shareholders
   (ii) creditors
   (iii) government
   (iv) investors

Long Answer Question

Explain in detail about the significance of the financial statements