What do financial statements provide for a condominium corporation?

Financial statements provide essential insights into the financial status of a condominium corporation, making this the correct choice. They encapsulate the financial activities of the corporation over a specific period, including revenues, expenses, assets, and liabilities. This information is critical for condominium boards and owners as it allows them to assess the corporation's financial health, make informed decisions regarding budget allocations, maintenance, and other operational matters.

Moreover, financial statements help ensure transparency, offering a clear view of how funds are being managed and spent. Being well-informed about the financial status supports effective governance and fosters trust among unit owners in the management of the condominium's finances.

In contrast, tax information would be more specific to the corporation's obligations to tax authorities, while legal compliance guidelines pertain to regulatory adherence that isn’t encapsulated in financial statements. Marketing performance metrics, on the other hand, are typically related to the promotion and sale of units rather than the operational financial health of the condominium.