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unit 2 dq.txt - I would explain to Jane that financial...

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I would explain to Jane that financial statements are types of records that are used to enter financial activities for a business. Its a way for businesses to show their financial standing for potential investors as well as stakeholders in the business. Depending on what time of the financial period you are in will determine what financial statement is going to be used. I would make sure that Jane understands that there are four different financial statements that are used. The balance sheet shows the financial position of the business at a specific time and date and will show assets, liabilities, and equity for the business. With the income statement it is used to show the net income and net losses to the business for specific time periods. Cash flow statements are going
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