Final answer:
The appropriate title for financial statements prepared on a cash basis is 'Statement of Cash Receipts and Payments'. This reflects transactions based on actual cash flows rather than accrual accounting principles.
Step-by-step explanation:
The title considered suitable for financial statements that are prepared on a cash basis is b. Statement of Cash Receipts and Payments. This title accurately reflects the nature of cash basis accounting where revenues and expenses are recognized when cash is received or paid. The Statement of Cash Receipts and Payments shows all the cash transactions that have occurred over a particular period.
On the other hand, a. Cash Flow Statements are typically associated with the accrual basis of accounting, providing a broader view of cash flows categorized as operating, investing, and financing activities. c. Accrual Basis Financial Statements imply the use of accrual accounting principles, where revenues and expenses are recognized when earned or incurred, regardless of when the cash transactions occur. Lastly, d. Comprehensive Income Statements include all changes in equity (other than those resulting from investments by owners and distributions to owners) and, like Accrual Basis Financial Statements, are not prepared under the cash basis of accounting.