Discussion
Which of the following are regarded as sources of information for financial statement analysis?
(i) Annual reports
(ii) Interim financial statements
(iii) Notes to accounts
(iv) Statement of cash flows
Answer: D
All four are sources of information. Financial statement analysis draws on the annual reports of the company, its interim (quarterly or half-yearly) financial statements, the notes to accounts, which give details and accounting policies behind the figures, and the statement of cash flows. Since all of (i), (ii), (iii) and (iv) are listed in the answer key, an option with fewer items leaves out a valid source.
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