-Which of the following is a true statement? (Note: A statement may be true even if it does not identify all accounts that appear on that particular financial statement. )
A)Account numbers 2,4,and 5 will appear on the income statement.
B)Account numbers 1,3,and 8 will appear on the balance sheet.
C)Account numbers 2,5,and 8 will appear on the statement of cash flows.
D)Account numbers 4,5,and 6 will appear on the statement of changes in stockholders' equity.

Question

-Which of the following is a true statement? (Note: A statement may be true even if it does not identify all accounts that appear on that particular financial statement. )
A)Account numbers 2,4,and 5 will appear on the income statement. 
B)Account numbers 1,3,and 8 will appear on the balance sheet. 
C)Account numbers 2,5,and 8 will appear on the statement of cash flows. 
D)Account numbers 4,5,and 6 will appear on the statement of changes in stockholders' equity.

Quizplus · Accepted Answer

A balance sheet reports assets,liabilities,and stockholders' equity as of a selected date (usually the end of an accounting period).Cash and accounts receivable are asset accounts.Retained earnings is a stockholders' equity account.

-Which of the Following Is a True Statement? (Note: a Statement