The date of the end of the latest period covered by the financial statements.Select one:a.Date of approval of the financial statementsb.Date of the auditor's reportc.Date of the financial statementsd.Date the financial statements are issued
Question
The date of the end of the latest period covered by the financial statements.Select one:a.Date of approval of the financial statementsb.Date of the auditor's reportc.Date of the financial statementsd.Date the financial statements are issued
Solution
The correct answer is c. Date of the financial statements. This is the date up to which the financial statements cover. It is the end of the accounting period for which the financial statements are prepared. The other dates mentioned (approval, auditor's report, and issuance) occur after the end of the period covered by the financial statements.
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