Which of the Following Financial Statements Is Required to Be

question 18

Multiple Choice

Which of the following financial statements is required to be completed by a company?
I. Statement of cash flows
II. Statement of profit or loss and other comprehensive income
III. Statement of changes in equity
IV. Statement of financial position

• A) II and IV only.
• B) II, III and IV only.
• C) I and III only
• D) I, II, III and IV.

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Definitions:

Cost To Buy

The total amount of money required to purchase a good or service including taxes and fees.

Cost To Make

The total expenditure incurred in producing a good or service, including materials, labor, and overhead costs.

Win In Trade

A situation where all parties involved in a trade feel that they have benefited from the transaction.

Lose In Trade

A situation where an individual or country experiences a decrease in welfare or potential benefit as a result of engaging in trade, often due to unfavorable terms or conditions.