Which of the following is not a financial statement?
Correct answer: D. Trial BalanceAccounting & Auditing
- A. Profit and Loss Account
- B. Balance Sheet
- C. Funds Flow Statement
- D. Trial BalanceAccounting & Auditing
Explanation
A trial balance is an internal listing used to check the equality of debit and credit balances, not a financial statement. The Profit and Loss Account, balance sheet and funds flow statement are financial reporting statements.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? support@testustad.com
About Financial Statements
Financial statements present a business's financial performance and position through the income statement, statement of financial position, cash flow statement and changes in equity. Questions involve preparing and interpreting these statements, adjusting entries, depreciation, closing inventory, accrued and prepaid items, and distinguishing profit from cash flow.
Practise Financial Statements
128 free Financial Statements MCQs from Accounting, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Accounting questions like this
Accounting is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Financial Statements questions
If unexpired insurance appears in the Trial Balance, it should be:
Which of the following are/is not a fixed asset?
Which of the following are/is a current asset?
Which of the following will not appear in Profit and Loss Account of a business?
The Profit and Loss Account shows the:
Prepaid expenses are valued on the Balance Sheet at