Which of the Following Statements Best Defines Financial Statements

Multiple Choice

Which of the following statements best defines financial statements?

A) Financial statements are the information systems that record monetary and nonmonetary business transactions.
B) Financial statements are the verbal statements made to business news organizations by chief financial officers.
C) Financial statements are business documents that report on a business in monetary terms, providing information to help users make informed business decisions.
D) Financial statements are plans and forecasts for future time periods based on information from past financial periods.