Multiple Choice
The three most important financial statements are the:
A) Profit & Loss, Balance Sheet and Statement of Changes in Equity
B) Statement of Financial Position, Income Statement and Statement of Cash Flows
C) Income Statement, Statement of Cash Flows and Explanatory Notes to the Financial Statements
D) Statement of Financial Position, Statement of Cash Flows and Statement of Changes in Equity
Correct Answer:

Verified
Correct Answer:
Verified
Q12: The matching principle is concerned with matching:<br>A)
Q13: In a Statement of Financial Position, amounts
Q14: Profit is not the same as cash
Q15: A business is completing its financial records
Q16: A company buys a major piece of
Q17: An adjustment to the financial statements to
Q18: The following items appear in a Statement
Q19: The payment of dividends to shareholders would
Q20: Depreciation is added back to net profit
Q22: ABC buys a smaller company XYZ for