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.

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Definitions:

Tender

An offer to perform work, supply services, or sell goods at a specified price.

Deed

A legal document that represents the ownership of a property and can transfer that ownership from one party to another.

Statute Of Frauds

A legal concept that requires certain kinds of contracts to be written and signed in order to be enforceable.

Parol Evidence Rule

A rule that prevents a party from introducing evidence that would add to or contradict terms of a contract.