Question

For each of the following, identify if each statement applies to the balance sheet (B), income...

For each of the following, identify if each statement applies to the balance sheet (B), income statement (I), or neither (N)

A. Flow statement [A]

B. Shows the cash flows of a business [B]

C. Shows the net worth of the firm [C]

D. Shows the market value of the firm [D]

E. Snapshot statement [E]

F. Shows what is owned and owed by the firm [F]

G. Shows the profitability of a firm over a period of time [G]

H. Shows the addition to equity this year [H]

I. Shows the total equity of a firm [I]

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Answer #1
Question Ans
A. Flow statement [A] N
B. Shows the cash flows of a business [B] N
C. Shows the net worth of the firm [C] B
D. Shows the market value of the firm [D] N
E. Snapshot statement [E] N
F. Shows what is owned and owed by the firm [F] B
G. Shows the profitability of a firm over a period of time [G] I
H. Shows the addition to equity this year [H] B
I. Shows the total equity of a firm [I] B
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