Which of the Following Is Not One of the Four

question 162

Multiple Choice

Which of the following is not one of the four basic financial statements?

• A) balance sheet
• B) statement of cash flows
• C) statement of changes in financial position
• D) income statement

---

Definitions:

Nearest Cent

Rounding a monetary amount to the closest cent, often used to simplify cash transactions.

Simple Interest

An interest calculation method where the interest charge is calculated only on the principal amount, without compounding.

Nearest Cent

Rounding a monetary amount to the closest one-hundredth of the currency unit, such as a dollar.

Semiannual Compounding

Another term for compounded semi-annually, indicating that interest is added to the principal sum twice per year.