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Question
Financial Statements of a company consists of ______.
Options
Statement of Profit & Loss.
Balance Sheet.
Cash Flow Statement.
All of these.
MCQ
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Solution
All of these.
Explanation:
The set of a company’s financial statements includes the Balance Sheet (shows financial position at a point in time), the Statement of Profit & Loss (shows performance over a period) and the Cash Flow Statement (shows cash inflows and outflows); together they provide a complete view of a company’s position, results and cash movements and are listed as parts of the financial statements in the governing guidance.
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