Discuss the types of financial statements and their purpose.

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asked Sep 25, 2021 100k views

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Bill Craun · Answer 1 · 2021-10-02T14:08:44+0000

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They are: (1) balance sheets; (2) income statements; (3) cash flow statements; and (4) statements of shareholders' equity. Balance sheets show what a company owns and what it owes at a fixed point in time. Income statements show how much money a company made and spent over a period of time.

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Discuss the types of financial statements and their purpose.

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