Which of the following statements best defines financial statements?
A) Financial statements are the information systems that record monetary and nonmonetary business transactions.
B) Financial statements are the verbal statements made to business news organizations by chief financial officers.
C) Financial statements are documents that report on a business in monetary terms, providing information to help people make informed business decisions.
D) Financial statements are plans and forecasts for future time periods based on information from past financial periods.
C
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When Lee Apparel introduced Lee Dungarees, it carefully coordinated posters, radio and television commercials, and a web-based interactive game that drove customers to off-line stores and back to the website. All of these elements produced a consistent, unified, customer-focused message. Lee Apparel used:
a. creative selling b. integrated marketing communications c. coordinated promotion d. promotional mixing e. processed marketing
When a company receives interest revenue on a long-term investment in bonds, ________
A) long-term assets decrease B) long-term assets increase C) equity increases D) current assets decrease