Listed below are the three major financial statements and some of the ways in which they are

Question:

Listed below are the three major and some of the ways in which they are used by investors, creditors and others.
__________________________Use _______________________ Financial Statement
a. Aids in understanding the differences between ................. 1. income and cash flow. ............................................. 2. Income Statement
b. Helps to assess a company's ability to ............................ 3. Statement of Cash Flows
produce future cash flows.
c. Assists in judging a company's ability to meets its obligations.
d. Helps in estimating the need for external financing.
Required:
Match each financial statement with its use. (Each use may be related to more than one financial statement, and may be used more than one time.)
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...