Question: What is a financial statement? Cite your source/reference. What is a Balance Sheet? Cite your source/reference. What is an Income Statement? Cite your source/reference. What

What is a financial statement? Cite your source/reference.

What is a Balance Sheet? Cite your source/reference.

What is an Income Statement? Cite your source/reference.

What are the 3 main components of a balance sheet? Cite your source/reference.

What are the 2 main components of an income statement? Cite your source/reference.

What is the difference between REAL and NOMINAL ACCOUNTS? Give 5 examples of each type of account. Cite your source/reference.

What is the Statement of Changes in Equity? Cite your source/reference.

What are the components of the Statement of Changes in Equity? Cite your source/reference.

Why is there a need for a company to prepare a Balance Sheet, Income Statement, and Statement of Changes in Equity? Who are the users of these reports? Cite your source or refence.

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