The _____ Is Not One of the Three Major Financial

question 112

Multiple Choice

The _____ is not one of the three major financial statements.

• A)statement of cash flows
• B)income statement
• C)balance sheet
• D)statement of equity position

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Definitions:

Partially Disclosed Principal

A partially disclosed principal is a party in an agency relationship whose existence is known to a third party, but their identity is not revealed.

Undisclosed Principal

A person who directs another to deal with a third party without revealing their identity.

Durable Power

A legal document that grants someone the authority to act on another's behalf in legal and financial matters, which continues to be effective even if the grantor becomes incapacitated.

Power of Attorney

A legal document authorizing one person to act on behalf of another in legal, financial, or personal affairs.