Question: Please Answer These Two Questions Please Make The Answers Clear ! Generally Aocepted Accounting Principles require that an organization prepare four (4) financial statements of
Generally Aocepted Accounting Principles require that an organization prepare four (4) financial statements of the organization, along with a sel of footnotes, although there exist many different names for each of these statements: Which of the following pairs of financlal statement names is not correct? A. An Income Statement is the same as an Operating Statement B. An Income Statement is the same as a Proft and Loss Statement C. A Batance Sheet is the same as a Statement of Liquidity D. A Balance Sheet is the same as a Statement of Financial Position QUESTION 4 If All Sainte Community Hospital is a tax-exempt, not-for-profit healthcare organization. then which statement fa mest liksely false regarding the presentation of its financlal statements? A. You would expect all or some of the equity component of its belance shent to be termed "Shareholders Equity". B. You would oxpect all or some of the equity component of its balance sheet to be termed "Net Assats". C. You would expect to see the dollar amolunt of services sold to patients of the organization shown on its income Statement using the term "Revenues" D. You would not expect to see the charitable donations it has received during the year on its Balance Sheet
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