Which of the Following Statements Is CORRECT

question 1

Multiple Choice

Which of the following statements is CORRECT?

• A) The four most important financial statements provided in the annual report are the balance sheet, income statement, cash budget, and the statement of stockholders' equity.
• B) The balance sheet gives us a picture of the firm's financial position at a point in time.
• C) The income statement gives us a picture of the firm's financial position at a point in time.
• D) The statement of cash flows tells us how much cash the firm has in the form of currency and demand deposits.
• E) The statement of cash needs tells us how much cash the firm will require during some future period, generally a month or a year.

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