Which of the following is NOT one of the reports or financial statemen

QUESTION

Which of the following is NOT one of the reports or financial statements the bookkeeper issues at the end of every accounting period?

A) balance sheet
B) income statement
C) statement of cash flows
D) income tax return
E) profit-and-loss statement

ANSWER

Answer: D
Explanation: D) Once the bookkeeper has the correct figures, he or she can use that summarized data to issue three reports, or financial statements: the balance sheet, the income statement (also known as the profit and loss statement), and the statement of cash flows. The income tax return is NOT one of these regular reports.