List the three financial statements required to be provided to the Securities and Exchange Commission by...

List the three financial statements required to be provided to the Securities and Exchange Commission by all publicly traded companies.

Expert Solution

ANS: Financial statements are the documents that shows the financial performance of the company, & the auditor express his opinion about its " True & Fair View".

The three financial statements required to be provided to the Securities and Exchange Commission are:-

Balancesheet - It is a financial statement that reports about the company's assets, liabilities, & shareholders equity at the end of the financial year. It helps the stakeholders about the financial status of the company.
Income Statement - It shows the profitability of the company for the given reporting period. It depicts the current position of company's revenue & expenses & helps managers & investors in making financial decisions.
Cash Flow Statement - It shows how company manages its Cash Inflows & Outflows. It generally summarises three activities - Operating Activity, Investing Activity & Financing Activity. It helps to determine the company's liquidity to pay its expenses.

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