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Question
Financial statements are prepared on the basis of facts in the form of cost data recorded in the ______ period.
Financial statements are prepared on the basis of facts in the form of cost data recorded in the ______ period.
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Solution
The correct option is A Accounting
Financial statement are summarized financial reports which provide the operating results and financial position of companies, and the detailed information contained therein is useful for assessing the operational efficiency and financial soundness of a company. Generally financial statements are prepared based on the data recorded in the accounting period.
Financial statement are summarized financial reports which provide the operating results and financial position of companies, and the detailed information contained therein is useful for assessing the operational efficiency and financial soundness of a company. Generally financial statements are prepared based on the data recorded in the accounting period.
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