Explanation

Correct Answer: B (quarterly report)

Key Points:

1. Unaudited Financial Statements:

   • Quarterly reports (10-Q filings in the US) typically contain unaudited financial statements.
   • These are interim financial statements that have not been examined by independent auditors.
   • They are subject to limited review procedures but not a full audit.

2. Annual Reports:

   • Annual reports (10-K filings in the US) contain audited financial statements.
   • These statements have been examined by independent auditors who provide an opinion on their fairness and compliance with accounting standards.

3. Proxy Statements:

   • Proxy statements (DEF 14A filings) contain information about matters to be voted on at shareholder meetings.
   • They may include some financial information but are not primarily financial statements.

Why Other Options Are Incorrect:

• A (annual report): Annual reports contain audited financial statements, not unaudited ones.
• C (proxy statement): While proxy statements may contain some financial information, they are not the primary vehicle for presenting financial statements, and the financial information they contain is typically not comprehensive financial statements.

CFA Curriculum Reference:

• Financial Statement Analysis: Understanding the differences between audited and unaudited financial statements and where they are typically presented.
• Regulatory filings: Understanding the requirements for different types of financial reports (annual vs. quarterly).