There are four primary financial statements that are used to measure the performance of a firm. Which of the choices below are included among these four?
A) The balance statement and income statement
B) The income sheet and statement of retained earnings
C) The statement of cash flows and statement of balance
D) The balance sheet and statement of cash flows
Answer: D
Explanation: D) There are four primary financial statements that are used to measure the performance of a firm: the income statement, the balance sheet, the statement of retained earnings, and the statement of cash flows (also known as sources and uses of cash). Together, these four financial statements contain much of the essential historical information about the performance and management choices of a firm.
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