what is financial statement.. explain it?
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Definition: Financial statements are reports prepared by a company's management to present the financial performance and position at a point in time. A general-purpose set of financial statements usually includes a balance sheet, income statements, statement of owner's equity, and statement of cash flows.
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Explanation:
financial statement are firmal records of the financial activities and position of a business , person b, or other entity . relevant financial information is presented in a structured manner and in a information which is easy to understand.
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