Final answer:
Financial statements are typically prepared quarterly to provide regular updates on a company's financial performance.
Explanation:
Most financial statements are prepared quarterly. This means they are generated and presented four times a year, providing regular updates on a company's financial performance.
Companies must disclose financial information in quarterly reports to the public, which includes details like earnings, expenses, and cash flow, offering insight into the company's health.
By preparing financial statements annually or bi-annually, companies may not provide as timely information as they would with quarterly statements, potentially impacting decision-making and transparency.
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