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T/F The 3 main financial statements are the income statement, balance sheet, and statement of cash...

T/F The 3 main financial statements are the income statement, balance sheet, and statement of cash flow and the balance sheet list assets and cash flows of the firm.
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Answer #1

Three main financial statements are income statements, balance sheet, and cash flows but balance sheet will not be including the cash flows of the company separately.

The given statement is incorrect because the balance sheet will be listing the assets as well as the liability of the company and cash will be included in the Asset side of the balance sheet.

So in this statement, it is given that the balance sheet will be listing Assets and the cash flows of the firm, so so it can be said that this statement is FALSE because balance sheet will be listing Assets and the liabilities of the firm.

The given statement is FALSE

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