Shelly is a loan officer who approves loans for small businesses. One factor she looks at carefully when making loan decisions is the amount of outstanding debt the firm already has. She can find this information by looking at the firm's:

Question

Quizplus · Accepted Answer

The amount of outstanding debt a firm has is typically listed on its balance sheet. The income statement shows revenue and expenses, but not necessarily the firm's current level of debt. Similarly, the articles of incorporation and cash budget are unlikely to provide information on outstanding debt.

Shelly Is a Loan Officer Who Approves Loans for Small