Examlex
Which of the following statements is false?
Financial Statements
Comprehensive reports created from accounting records that convey a business's financial performance, position, and cash flows over a specific period.
Profit and Loss
A financial statement that summarizes the revenues, costs, and expenses incurred during a specified period.
Statement of Cash Flows
A financial report that shows how changes in balance sheet accounts and income affect cash and cash equivalents.
Trial Balance
A financial report that lists all the balances in each ledger account at a point in time, used to ensure debits equal credits.
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