The four basic financial statements are: C. income sheet, statement of retained earnings, balance sheet, and statement of cash flows.
<h3>The four basic
financial statements.</h3>
In Financial accounting, there are four (4) basic financial statements and these include the following:
- Income sheet
- Statement of retained earnings
- Balance sheet
- Statement of cash flows
<h3>What is an income statement?</h3>
An income statement can be defined as a type of financial statement which is typically used by an entrepreneur or business firm to record the amount of money (revenues) that are entering or flowing into the business.
<h3>What is a statement of cash flows?</h3>
A statement of cash flows is also referred to as cash flow statement and it can be defined as a type of financial statement which illustrate how changes in income and various account of the balance sheet affect cash and other cash equivalents.
Read more on cash flows here: brainly.com/question/24299919
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