Which of the following are common types of financial statements prepared by account clerks?

The balance sheet and income statement are fundamental financial statements that provide critical insights into an organization's financial position and performance. The balance sheet offers a snapshot of the company's assets, liabilities, and equity at a specific point in time, reflecting its overall financial health. On the other hand, the income statement details the revenues and expenses over a specified period, illustrating the company’s profitability.

These two statements are commonly prepared by account clerks because they are essential for financial analysis, budgeting, and strategic planning. They are frequently used by stakeholders, including management, investors, and creditors, to assess the financial viability of a business. The preparation of these statements is foundational to accounting practices and provides essential information needed for decision-making.

Other choices mention relevant documents but either combine them in less common ways or include statements that are not traditional financial statements. For example, while cash flow statements are also important, they are considered a separate category of financial reporting. Additionally, payroll reports are more operational than financial in nature and are typically handled separately from standard financial statement preparations.