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COGNITIVE ASSESSMENT Which of the following is not true about output types?
Profit-And-Loss Financial Statement
A financial report that summarizes the revenues, costs, and expenses incurred during a specific period, usually a fiscal quarter or year, indicating the company’s profit or loss.
Statement Of Retained Earnings
A financial document that outlines the changes in retained earnings for a company over a specific period, showing how much profit is reinvested in the business or distributed to shareholders.
Balance Sheet
A financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.
Income Statement
A financial document that reports a company's revenues, expenses, and profits over a specific period.
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