XACC 280 Week 1 DQ 2

Question:
What do each of the four financial statements tell you about a company? How do companies use financial statements? Which financial statement do you think is the most useful and why?

Response 1
The four types of financial statements consist of income statement, retained earnings statement, balance sheet, and statement of cash flows.
An income statement provides the organization with information that result from net income or loss.
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