Which of the Following Reports Would Not Be Prepared for Financial

question 47

Multiple Choice

Which of the following reports would not be prepared for financial accounting purposes?

• A) Statement of Financial Position.
• B) Statement of Cash Flows.
• C) Statement of Management Performance.
• D) Statement of Profit or Loss.

---

Definitions:

Seller's Warranties

Guarantees made by a seller regarding the condition, quality, or performance of a product.

Implied Warranty of Merchantability

A legal assurance that goods sold meet minimum quality standards and are fit for the purpose sold.

Trade Usage

Established practices or patterns of behavior regularly observed and accepted in a particular industry.

Particular Purpose

A specific reason or function for which something is intended or used.