Ask Question
26 March, 10:50

Interim financial statements: are always prepared before any adjustments have been recorded. show the assets above the liabilities and the liabilities above the equity. cover less than one year, usually spanning one-, three-, or six-month periods. report revenues when incurred and expenses when earned.

+5
Answers (1)
  1. 26 March, 11:01
    0
    cover less than one year, usually spanning one-, three-, or six-month periods

    Explanation:

    Interim financial statements: Interim financial statements are those statements that are prepared for less than one year. It can be made monthly, quarterly, half-yearly or yearly. But its duration is less than one year. It is used to give updated information which can change the investor's decision in a future period.

    It includes all types of statements like balance sheet, income statement, cash flow statement. These statements are not audited and mostly it is prepared in publicly held companies.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Interim financial statements: are always prepared before any adjustments have been recorded. show the assets above the liabilities and the ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers