Identify the three financial statements important to all businesses

Expert Solution

Three Financial statements important to all businesses

1. BALANCE SHEET - It Shows the net position of the business explaining the total assets available with the business as weel as the liabilities of the business and the stockholder equity owned u stakeholders.

2. INCOME STATEMENT - It shows how the business is performinh, showning whether the business is profitable or not during the period.

3. CASH FLOW STATEMENT - It decries the operating, investing and financial cash flow of the business during the period to identify whether net change in cash and cash equivalent is positive and whether company has sufficient cash activities.

ekkarill92 answered 2 years ago

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