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QUESTION 16

The Profit & Loss Statement lists:

		Assets and Expenses
		Assets and Liabilities
		Net Income and Owner's Equity
		Income and Expenses

QUESTION 17

What information does the Balance Sheet provide?

		A summary of cash inflows and outflows over a specific time period
		A company's financial position on a specific date
		Sales and expenses for a specific time period
		None of the choices are correct

QUESTION 18

Providing information to internal users for decision making is the purpose of which of the following?

		Management reports
		Tax forms
		Financial statements
		Vendors list

QUESTION 19

Which of the following determines if the account appears classified properly on the balance sheet?

		Tax-Mapping Line
		Account Number
		Item Number
		None of the choices are correct

QUESTION 20

Examples of management reports for internal decision making include all of the following except:

		1120S Report
		Cash Budget
		Cash Forecast
		Accounts Receivable Aging Summary