Certified Valuation Analyst (CVA) Practice Exam 2025 – Your All-in-One Guide to Exam Success!

The correct choice highlights a fundamental aspect of business valuations: the three primary economic statements typically referenced are the balance sheet, income statement, and cash flow statement. Each of these plays a critical role in assessing the financial health and performance of a business.

The balance sheet presents a snapshot of a company's assets, liabilities, and equity at a specific point in time, allowing evaluators to gauge its financial stability. The income statement details revenues and expenses over a period, showing how effectively a business generates profit. The cash flow statement tracks incoming and outgoing cash, which is essential for understanding liquidity and cash management.

In contrast, while a market analysis statement is valuable for evaluating competitive position and market conditions, it does not constitute one of the core economic statements recognized in standard valuation practice. By understanding the foundational role of the balance sheet, income statement, and cash flow statement, one can effectively appraise a business's value, making it clear why the market analysis statement does not belong in this particular trio.