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:

Current Ratio

A liquidity ratio that measures a company's ability to cover its short-term obligations with its current assets.

Long-Term Debt

Debt that is due for payment after more than one year, often used for financing or expanding the company.

Accounts Receivable

The total due to a business from its customers for goods or services which have been issued or consumed, but not yet compensated.

Seasonal Merchandise

Products that are popular, selling, or in demand during specific seasons or periods of the year.