Which of the Following Statements Is CORRECT

question 71

Multiple Choice

Which of the following statements is CORRECT?

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

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Definitions:

Government

The governing body of a nation, state, or community, charged with regulating and administering public policy and affairs.

Essential Resource

A necessary input or resource that is fundamental for the functioning and sustainability of an economy or ecosystem.

United States

A country located in North America, known for its large economy and diverse population, characterized by significant cultural and geographic variety.

General Motors

A global corporation based in Detroit, United States, that specializes in designing, producing, marketing, and selling vehicles and their components.