Which of the following describes a complete set of financial statements?

A complete set of financial statements typically includes the balance sheet, income statement, and cash flow statement, as these documents together provide a comprehensive overview of a company'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 the financial health of the organization. The income statement presents the company's revenues, expenses, and profits or losses over a particular period, detailing how well the company is performing in terms of profitability. Finally, the cash flow statement tracks the inflow and outflow of cash, showcasing how well the company manages its cash position and funding of its operations. Together, these three financial statements give stakeholders—including management, investors, and analysts—an essential understanding of the company’s financial dynamics.

Other options listed do not constitute a complete set of financial statements, as they focus on different aspects of business analysis rather than providing a standardized representation of financial performance and position. Sales reports, marketing analyses, budgets, forecasts, performance reviews, and market research all play important roles in business management and strategy but do not fulfill the requirements of formal financial reporting as defined by accounting principles.