Why are the records of various business activities maintained ?, what do we need to prepare statements?, When are the statements usually prepared?, What are to purposes of fs?, What 2 types of statements are termed as FS, What other statements are included in FS? why are they inmortant?, Wht can be known from the income statement?, What information does the balance sheet? what does it show?, Why do business need fund flow statement?, Which balance is called net income? and which is net loss, What does the term income mean?, What can we call expenses?, What to types of The income statement are there? and what is the difference?, what is assets ? and what is liabilities?, What is operating revenue?, How do we find cost of goods sold? and gross profit?, What are the two types of operating expenses? Which activities do each type relate to ? and what does each type include?, What are some kinds of non -operating income?, What is the formula of assets?, What are the seven objectives of the Balance Sheet?, How are assets shown in the classified Balance Sheet?, What are the types of current assets?, What is fixed-assets?, What is Intangible assets?, What is Current liabilities?, what is owners equity?, What are the objectives of Cash flow statement?, What are the 3 types of cash flow statement?, Why is cash flow statement so important for FS ? How can it help.

Financial statement

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