Multiple Choice
Which of the following financial statements is concerned with the company at a point in time?
A) Statement of financial position
B) Statement of income
C) Statement of changes in equity
D) Statement of cash flows
Correct Answer:
Verified
Correct Answer:
Verified
Q16: Payments to shareholders are called<br>A)expenses.<br>B)liabilities.<br>C)dividends.<br>D)shares.<br>
Q17: An internal user<br>A)is not involved in managing
Q18: Retained earnings are<br>A)the shareholders' claim on total
Q19: Any deficiency in cash from operating activities
Q20: A negative balance in retained earnings is
Q22: The accounting equation may be expressed as<br>A)Assets
Q23: The financial statement that summarizes the changes
Q24: The statement of financial position<br>A)summarizes the changes
Q25: Debt and obligations of a business are
Q26: Anyone who works for a company but