Which of the Following Statements Best Defines Financial Statements

question 180

Multiple Choice

Which of the following statements best defines financial statements?

• A)Financial statements are the information systems that record monetary and nonmonetary business transactions.
• B)Financial statements are the verbal statements made to business news organizations by chief financial officers.
• C)Financial statements are documents that report on a business in monetary terms,providing information to help people make informed business decisions.
• D)Financial statements are plans and forecasts for future time periods based on information from past financial periods.

---

Definitions:

Goodwill

An intangible asset representing the value of a company's brand name, solid customer base, good customer relations, good employee relations, and any patents or proprietary technology.

Concise Messages

Communication that provides necessary information in a clear and brief manner, without unnecessary words or details.

Rubber Stamps

Tools with raised letters or designs used to apply inked impressions on surfaces, often used for administrative or craft purposes.

Preachy Tone

An overly moralistic or instructive tone in writing or speech, often perceived as annoying or condescending.