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Match Each of the Following Characteristics with the Financial Statement

Question 245

Matching

Match each of the following characteristics with the financial statement it describes. Each financial statement may be used more than once.

Premises:
Reports as of a specific date
The first statement prepared
Has three sections: operating, investing and financing
Reports only revenues and expenses
The second statement prepared
A formal presentation of the accounting equation
Responses:
Income statement
Balance sheet
Statement of stockholder's equity
Statement of cash flows

Correct Answer:

Reports as of a specific date
The first statement prepared
Has three sections: operating, investing and financing
Reports only revenues and expenses
The second statement prepared
A formal presentation of the accounting equation
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