Financial Statements A Set of Financial Statements Includes Three Related Accounting Reports,or

question 7

Essay

Financial statements
A set of financial statements includes three related accounting reports,or statements.In the space provided,list the names of three primary statements,and give a brief description of the accounting information contained in each.

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Definitions:

Apartment Building

A residential building containing multiple apartments for rent.

Business Revenue

The total income generated by a company from its normal business operations before any expenses are subtracted.

Percent Reduced

A measure of how much a number or value is decreased expressed as a percentage.

Post-Christmas Sale

A marketing event where retailers offer significant discounts on merchandise following the Christmas holiday to reduce inventory.