Reply to the following using at least 175 words.What are the different types of financial statements that are associated with or specific to the different types of business formations?

Reply to the following using at least 175 words. Be professional and constructive in your response. Be sure to use FULL APA references and in-text citations.

Having an understanding of business types or formations, the advantages and disadvantages of each, along with the tax, legal, and accounting implications of the businesses are necessary when considering how to structure a business.

With accounting implications financial statements must be considered as they are key to understanding how healthy a business actually is.

What are the different types of financial statements that are associated with or specific to the different types of business formations?