1. Distinguish between the balance sheet and cash-flow statement. 2. How should assets and liabilities be valued...

Question:

1. Distinguish between the and cash-flow statement.
2. How should assets and liabilities be valued for the Distinguish between fixed and variable expenses. Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...