The Three Important Financial Statements Prepared by Accountants Are

question 47

Multiple Choice

The three important financial statements prepared by accountants are

• A) ledger, journal, and trial balance.
• B) cash budget, capital budget, and master budget.
• C) revenue summary, expense summary, and consolidation statement.
• D) balance sheet, income statement, and statement of cash flows.

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Definitions:

Negative Slope

A downward slope indicating an inverse relationship between two variables, where an increase in one correlates with a decrease in the other.

Xy Axis

Refers to the two-dimensional coordinate system formed by the intersection of the x-axis (horizontal) and y-axis (vertical), used for graphing equations or data points.

Phi Coefficient

A measure of the degree of association between two binary variables, ranging from -1 to 1.

Coefficient of Determination

A statistical measure, often denoted as R^2, that represents the proportion of variance for a dependent variable that's explained by one or more independent variables.