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25 September, 03:12

What are financial statements?

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  1. 25 September, 03:37
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    A Financial statement (or financial report) is a formal record of the financial activities ad position of a business, person, or entity.

    There are 4 types of financial statements:

    * Income statement (This reveals the financial of an organization for the entire report period)

    * Balance sheet

    * Statement of cash flows

    * Statement of changes in equity
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