What four financial statements can be found in a? firm's 10-K?filing? What checks are there on the accuracy of these?statements?
Every public company is required to produce quarterly and annualfinancial statements. Those statements? are:???(Select all thechoices that? apply.)
A.The statement of financial position.
B. The income statement.
C. The statement of cash flows.
D. The statement of? stockholders' equity.
E. The statement of? stockholders'liabilities.
What checks are there on the accuracy of these?statements????(Select all the choices that? apply.)
A. Public companies must use a common set ofrules and standard format when they prepare their reports.
B. Corporations are required to hire a neutral?party, known as an? auditor, to check the annual financial?statements, ensure that the statements are prepared according toGAAP and provide evidence to support the reliability of theinformation.
C. In addition to the? auditor's role inreviewing the financial? statements, the? Sarbanes-Oxley Actrequires both the CEO and the CFO to personally attest to theaccuracy of the financial statements presented to shareholders andto sign a statement to that effect.
D. When an auditor is not? available, a?corporation's CFO or the CEO can certify that financial statementsare prepared according to GAAP.