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Sagot :
Carefully examining one year of data is not a way to accurately determine the financial performance of a company. So, option (a) will be the relevant option choice.
Give a brief account on financial statements.
Financial statements serve as a formal record of a company's, an individual's, or another entity's financial activities and condition. In addition to a management discussion and analysis, they typically comprise the following four basic financial statements:
- The assets, liabilities, and owner equity of a business are detailed in a balance sheet, often known as a statement of financial condition.
- A company's income statement, also known as a profit and loss report (P&L report), statement of comprehensive income, or statement of revenue and expense, provides information on its earnings for a given time period. An enterprise's operations are detailed in a profit and loss statement. Sales and other expenses incurred within the specified time period are included in these.
- The equity of the company over a specified time period is reported in a statement of changes in equity, statement of equity, or statement of retained earnings.
- A cash flow statement details the operating, investing, and financing activities that a corporation engaged in throughout a specific time period.
- The other comprehensive income elements are included in a comprehensive income statement even if they are not taken into account when calculating net income.
To know more about, financial statements, visit :
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