As a junior accountant for the Waterford Crystal Co. of New Bedford, Connecticut, you’ve just completed an intensive four-week initial training session. During your first week at Waterford, you’ll be applying many of the concepts that you worked so hard to understand over the course of four grueling years of college accounting classes: sales revenues, cost of goods sold, operating and administrative costs, taxes, interest expenses, and net profit. In week two, you’ll get some actual experience working with current and long-term assets, current and long-term liabilities, and owner’s equity. In your third week, you’ll be keeping track of all cash coming into and going out of the business.
-During week one at Waterford,you'll be working with _____.

Question

Quizplus · Accepted Answer

In week one, you'll be working with income statements, as the concepts mentioned (sales revenues, cost of goods sold, operating and administrative costs, taxes, interest expenses, and net profit) are all components of an income statement.

As a Junior Accountant for the Waterford Crystal Co