Accounting Fundamentals: Financial Statements, Business Entities and Asset Classification

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Finance - Personal Finance

georgepetenjk Created by 10 mon ago

Cards in this deck(13)

Which of the following items would appear as an asset on the balance sheet?

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Match the financial element 'Expenses' with its corresponding financial statement.

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What is a disadvantage of a corporation compared to a partnership?

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Which statement is true about a sole proprietorship regarding its legal and accounting entities?

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Who has the primary responsibility for the information contained in the financial statements?

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Which of the following is not reported as a liability on a balance sheet?

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In what order do items appear on the balance sheet?

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What are the sources of financing for a company's economic resources?

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What does the amount of insurance expense reported on the income statement describe?

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Which financial statement would you use to determine a company's earnings performance during an accounting period?

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Which of the following equations is the balance sheet equation?

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How are assets generally reported on the balance sheet?

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What is the full designation for the abbreviation 'CPA'?

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