Question

Which of the following is not one of the four basic financial statements? a.income statement b.statement of cash flows c.statement of changes in financial position d.balance sheet

Answer 1

Financial statements are written records that indicate the business activities and the financial performance of a company. Hence, the document that is not a financial statement is option C.

What are the four types of financial statements?

The four main financial statements are:

1. balance sheets;
2. income statements;
3. cash flow statements; and
4. statements of shareholders' equity.

Therefore, only option C. statement of changes in financial position is not among.

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