The Three Key Financial Statements of a Business Are The

question 20

Multiple Choice

The three key financial statements of a business are the:

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

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Definitions:

Descriptive Research Methods

Research methods that aim to observe, describe, and document aspects of a situation as it naturally occurs, without manipulating the environment.

Cause-and-Effect Relationships

The relationship in which one condition or event (cause) directly leads to another condition or event (effect).

Disadvantage

A condition or situation that makes it more difficult for someone or something to succeed or achieve a goal.

Weightlessness

The condition experienced when there is no perceivable gravitational force acting on a body, often occurring in space or during free-fall.