CIPS Level 4 Diploma in Procurement and Supply L4M4 Question # 75 Topic 8 Discussion
L4M4 Exam Topic 8 Question 75 Discussion:
Question #: 75
Topic #: 8
What are the two main financial accounting statements of an organisation that show the values of assets and liabilities, and the profit earned in the period?
A.
Cash flow statement (statement of cash flow) and balance sheet (statement of financial position)
B.
Balance sheet (statement of financial position) and profit and loss account (statement of financial performance)
C.
Profit and loss account (statement of financial performance) and chairman’s statement (in the annual report)
D.
Cash flow statement (statement of cash flow) and profit and loss statement (statement of financial performance)
The balance sheet and profit and loss account provide a comprehensive view of an organisation’s financial health, showing assets, liabilities, and profits. These statements are essential in evaluating a supplier’s financial capacity, aligning with responsible sourcing practices for financial stability.
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