Which of the Following Financial Statements Does Not Have to Be

question 8

Multiple Choice

Which of the following financial statements does not have to be prepared by a publicly listed company?

• A)Statement of comprehensive income.
• B)Statement of changes in equity.
• C)Statement of cash flows.
• D)All of the above must be prepared.

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Definitions:

General Partnership

A business arrangement where two or more individuals share ownership and the responsibility for managing the business and its debts.

Sole Proprietorship

A business structure where the business is owned and run by one individual, where there is no legal distinction between the owner and the business entity.

Partnership

A business formed by two or more co-owners.

Corporation

A legal entity that is separate and distinct from its owners, capable of owning property, incurring debt, and being sued or suing.