Financial Statements Question:
Explain why do businesses prepare financial statements?
Answer:
Basically to know the two facts about the business the financial statements are prepared:
-Financial position of the business at any given point of time in financial terms
-Result of operations carried out by the business organization during specific period.
-Financial position of the business at any given point of time in financial terms
-Result of operations carried out by the business organization during specific period.
| Previous Question | Next Question |
| Explain Profitability Statement? | Please tell me what are the two most basics financial statements prepared by the companies? |