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6.4.1 Purpose of financial statements

Why are daily sales, purchases, wages and bills combined into financial statements at the end of the trading year?

A

To replace thousands of entries with estimated figures that can be changed.

B

To separate thousands of entries into informal notes that can be discarded.

C

To consolidate thousands of entries into formal reports that can be checked.

D

To convert thousands of entries into sales forecasts that can be followed.

6.4.1 Purpose of financial statements Flashcards

  1. GCSE
  2. /Business
  3. /6.4.1 Purpose of financial statements

20 flashcards on AQA GCSE Business 6.4.1 Purpose of financial statements: the key terms, formulae and case studies you need to recall for Paper 1 and Paper 2.