Firms Disclose Financial Statements in ________ and in ________

question 152

Multiple Choice

Firms disclose financial statements in ________ and in ________.

• A)periodic filings to the federal government; annual reports to shareholders
• B)daily filings to the federal government; daily reports to shareholders
• C)monthly reports to shareholders; 5-year balance statements to the board of directors
• D)weekly filings with the SEC; monthly reports to the Fed

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Definitions:

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period detailing revenues, expenses, profits, and losses.

Comparability

The quality that allows users to analyze and recognize similarities and differences between two or more items of financial information.

Operational Results

The financial outcomes resulting from a company's core business operations.