A _____________ is a document that compares a particular financial statement with prior period statements or with the same financial report generated by another company.

Common size statement

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Comparative statement

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Income statement

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Balance sheet statement

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Solution

The correct option is C Comparative statement
A comparative statement is a document used to compare a particular financial statement with prior period statements. Previous financials are presented alongside the latest figures in side-by-side columns, enabling investors to identify trends, track a company's progress and compare it with industry rivals.

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A financial statement that summarizes company revenue and expenses is _________.

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