The Balance Sheet, the Statement of Cash Flows, and the ______________

question 72

Multiple Choice

The Balance Sheet, the Statement of Cash Flows, and the ______________ are three key financial statements prepared by accountants.

• A) Income Statement
• B) Statement of Retained Earnings
• C) Statement of Changes in Financial Position
• D) Trial Balance

---

Definitions:

Interest Rates

The cost, represented as a portion of the principal, that a borrower must pay to a lender for borrowing assets.

Present Value

The contemporary value of money or cash flows due in the future, calculated with a designated rate of return.

Received

To have been given, accepted, or acknowledged something that is sent or provided.

Economic Rent

The excess payment made to a factor of production over and above what is needed to keep it in its current use.