Question: In your own words, list and describe the four basic financial statements. Discuss the format, accounts included, and purpose of each statement. Also, explain the

In your own words, list and describe the four basic financial statements. Discuss the format, accounts included, and purpose of each statement. Also, explain the accounting process - how are the numbers on the financial statements arrived at -- where do the numbers come from? Why are the financials needed - how do corporate stakeholders benefit from the financial statements?

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