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17 September, 20:12

Which of the following is not a required Financial Statement under GAAP: a. Balance Sheet b. Income Statement c. Statement of Cash Flows d. Auditor's Report

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  1. 17 September, 21:56
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    d. Auditor's Report

    Explanation:

    As we know that the financial statements comprises of the income statement, statement of stockholder equity, balance sheet, and the statement of cash flows

    All revenues generated and expenses incurred during a given period are reported in the income statement.

    The Statement of equity of the stockholder contains the common stock and the retained earnings which could be used to calculate the ending balance.

    The balance sheet reports the assets and liabilities of the company

    And, the statement regarding cash flow analyzes the cash inflow and cash outflow status of the company. This includes three things, i. e. operation, investment and financing activities.

    In auditor report, it gives the unqualified or qualified opinion based on the reliability of the financial statements
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