Which of the following is not a financial statement
(A) profit or loss
(B) trial balance
(C) balance sheet
(D) statement of cash flow
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The correct answer is B
Explanation:
- Financial statement is the statements which are defined as the formal records of the financial activities as well as the position of the business, entity or person.
- Trial balance is the one which list or states the closing balances of the accounts of ledger on a specific date and it is the very first or primary step in the preparation of the financial statements.
- Therefore, the trial is not the financial statement as it is generally prepared at the accounting year end in order to assist in drafting of the financial statements, which are Income statement, cash flow statement, balance sheet and profit and loss.
You can learn more from here about financial statement:
https://brainly.in/question/4689417
You can learn more from here about Trial balance:
https://brainly.in/question/1998284
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