Section 8. Review Questions
Q41. Review of financial statements
What are the financial statements prepared by an entity?
A41.
(1) Balance sheet
(2) Income statement
(3) Statement of cash flows
(4) Statement of changes in equity
[Note]
Other names used for financial statements include:
(1) Balance sheet
= Statement of financial position
(2) Income statement
= Statement of income
= Statement of profit or loss
= Statement of earnings
= Statement of operations
(3) Statement of cash flows
= Cash flows statement
(4) Statement of changes in equity
= Statement of equity
= Statement of stockholders’ equity
= Statement of shareholder equity
= Statement of changes in stockholders’ equity
= Statement of changes in shareholder equity
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