Question

What are Financial Statements? Explain what is the purpose of : (a) Income statement. (b). Statement of owner’s equity. (c). Balance sheet.​

Answer 1

ANSWER...

Financial statements are written records that convey the business activities and the financial performance of a company. Financial statements are often audited by government agencies, accountants, firms, etc. to ensure accuracy and for tax, financing, or investing purposes. Financial statements include:..

Balance sheet.

Income statement.

Cash flow statement......