Which of the following statements are included in financial statements? a. Cash flow statements b.…
According to Ind AS 1 (and IAS 1, Presentation of Financial Statements), a complete set of corporate financial statements comprises: (c) Balance Sheet, (e) Income Statement…
Choose your answer
Which of the following statements are included in financial statements?
a. Cash flow statements
b. Funds flow statement
c. Balance sheet
d. Statement of change in equity
e. Income statement Choose the most appropriate answer from the options given below:
Answer and explanation
Correct answer B
According to Ind AS 1 (and IAS 1, Presentation of Financial Statements), a complete set of corporate financial statements comprises: (c) Balance Sheet, (e) Income Statement (Statement of Profit and Loss), (d) Statement of Changes in Equity, and (a) Statement of Cash Flows (along with notes). A Funds Flow Statement (b) is not part of mandatory financial statements.
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UGC NET Management