Chapter 10, Problem 7EYCT

(a)

To determine

Financial statements: Financial statements refer to those statements, which are prepared by the Company at the end of the accounting period in the particular formats which are prescribed in accounting to show its financial position.

The four financial statements are:

• Cash flow statement
• Income statement
• Retained earnings statement
• Balance sheet

To identify: The correct option from the given choices.

(b)

To determine

To identify: The presentation of brand values by the companies in their balance sheet.