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Reports that can be prepared from the adjusted trial balance.
General purpose financial statements
Expense reports
Inventory reports
Payroll spending reports
This set of financial statements is called “general purpose” because it consists of the basic financial statements that can be used by a broad group of people for a broad range of activities. Companies use this set of financial statements as a form of financial reporting to communicate company performance with the people outside of the organization. More specific financial reports like production flow processes and market analyzes are not included in a set of general-purpose financial statements. These types of reports are only available to company management.
By: DATTA DINKAR CHAVAN ProfileResourcesReport error
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