Which Statement Is NOT True About Financial Statements

question 22

Multiple Choice

Which statement is NOT true about financial statements?

• A) All companies prepare balance sheets, income statements, and statements of cash flow.
• B) Some companies prepare only balance sheets and income statements.
• C) Public firms, according to the Securities and Exchange Commission, must issue a statement of cash flows.
• D) Financial statements fall into three broad categories: balance sheets, income statements, and statements of cash flows.