1 answer

Please answer ALL. Match each of the following characteristics with the financial statement it describes. Each...

Question:

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

please answer ALL.

Match each of the following characteristics with the financial statement it describes. Each financial statement may be used more than once. Reports as of a specific date Balance sheet The first statement prepared Income statement Has three sections: ✓ [Choose ] operating, investing and Statement of retained earnings financing Income statement Balance sheet Reports only revenues and Statement of cash flows expenses HOUmuuuuomon The second statement prepared [Choose] A formal presentation of the accounting equation [Choose] Statement of retaine The connecting link between the income statement and balance sheet Shows the beginning retained earnings account balance [Choose]

Answers

Report of a specific date. - Balance Sheet

The first statement prepared- Income Statement

Has three sections operating,Investing and Financing- Cash Flow

Report only revenue and expenses - Income Statement

The Second Report prepared - Retained earnings Statement

The formal presentation of accounting equations- Balance Sheet

The connecting linkBetween income statement and balance sheet-

- Retained earnings Statement

Shows the beginning retained earnings account balance- Balance Sheet.

.

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