Write Statement a Statement b A True True B True False C False True D False False Financial Accounting a. Guide on some project to undertake b. Banks evaluation of financial standing for loan application 2. Managerial Accounting a. Financial planning and expenditures b. Guide on some projects to undertake Cash flow statement a. Describe sources and uses of funds b. Presents assets, liabilities and equity Statement of changes in financial condition Statements of owner's equity b. Statement of shareholder's equity 5. Income statement a. Presents record of sales b. Presents record of expenses 6. Ratio analysis n. Present data in descriptive approach b. It is prescriptive, tells the finance manager what to do 7. Horizontal analysis a. Compares the changes in each line item with same item b. Compares the present changes from previous statement Current ratio a. Current assets - inventory b. Current sales 9. Accounts receivable turnover a. Annual cash sales b. Accounts receivable 10. Quick assets a. Cash b. Accounts receivable