Financial Statements Are Prepared After an Entity's Transactions Are Analyzed

question 136

Multiple Choice

Financial statements are prepared after an entity's transactions are analyzed and recorded.Which of the following reports is one of the required financial statements?

• A)statement of cash flows
• B)statement of return on assets
• C)statement of dividends
• D)expense statement

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Definitions:

Wholly Owned Subsidiaries

Companies that are completely controlled by another company, the parent company, because the parent company owns all of their stock.

MNE

A Multinational Enterprise (MNE) is a company that owns and controls production or service facilities outside of the country in which it is based.

Forms

Documents with blank spaces for the insertion of details or information, often used for official purposes.

Tariffs

Taxes imposed on imported and, less commonly, exported goods with the aim of regulating trade, raising government revenue, or protecting domestic industries.