Christine's First Job Christine Has Just Earned Her Undergraduate Degree in Accounting and in Accounting

Multiple Choice

Christine's First Job
Christine has just earned her undergraduate degree in accounting and has successfully completed the CPA exam. She recently interviewed with a relatively small and new company and was offered a job. The offer sounded very promising; the job had opportunities to grow with the company and provided diverse challenges. Christine accepted the job.
Once Christine started working, she realized that the owners and employees did not have a general understanding of accounting. She had to teach them the steps in an accounting cycle so they would be able to understand how she was going to create reports. When she talked about the statement of financial position, they had no idea what she was talking about. She was the qualified individual responsible for accounting. No one else working with her had much knowledg
-Refer to Christine's First Job. If the owners did not recognize the term "statement of financial position," Christine could use which of the following more common terms?

A) income statement
B) balance sheet
C) statement of cash flow
D) statement of retained earnings
E) statement of financial ratios