A consolidated financial statement related its estimated expenditures and
revenue during a financial year is called
Answers
Answer:
This statement is called the annual financial statement. Description: It is divided into three parts, Consolidated Fund, Contingency Fund and Public Account. ... Appropriation Bill gives power to the government to withdraw funds from the Consolidated Fund of India for meeting the expenditure during the financial year.
Concept
A financial statements is like a report of the organisation's financial position, its cash flows, etc. These financial statements : Trading and profit&loss account ,balance sheet ,cash flow statement, fund flow statement.
To answer
Consolidated financial statement which shows expenditures and incomes of a company.
Explanation
Among all the financial statements trading and profit and loss account is the one which shows the revenue and expenditures of a company for a particular year. It consists of expenditures from trading as well as manufacturing. All the expenditures are debited to this account whereas all the revenue or incomes are credited to this account.
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