Quiz
financial statements
Start
1/5
An Increase in the Statement of Changes in the Owner's Equity Means......
The owner’s claims to the assets of the business have been decreased.
The owner’s claim to the assets of the business have grown.
There is a mistake in the report that must be reviewed and corrected
right answer
Continue with the quiz
2/5
The Statement of Changes in Owner's Equity.....
Report the assets of the business and the claims against them on a specific date.
Reports the net income or net loss for a specific period of time.
Summarizes changes in the owner’s capital account as the result of business transactions that occur during the period
right answer
His audiam deserunt in, eum ubique voluptatibus te. In reque dicta usu. Ne rebum dissentiet eam, vim omnis deseruisse id. Ullum deleniti vituperata at quo.
3/5
The information required to prepare the Changes in Owner's Equity statement is taken from....
The balance sheet section of the work sheet, the income statement and the general ledger.
The balance sheet section of the work sheet and the income statement
The balance sheet section of the worksheet and the general ledger
right answer
His audiam deserunt in, eum ubique voluptatibus te. In reque dicta usu. Ne rebum dissentiet eam, vim omnis deseruisse id. Ullum deleniti vituperata at quo.
4/5
The Income Statement is prepared using information from ......
General Journal
Ledger
Worksheet
right answer
His audiam deserunt in, eum ubique voluptatibus te. In reque dicta usu. Ne rebum dissentiet eam, vim omnis deseruisse id. Ullum deleniti vituperata at quo.
5/5
The Income Statement is the first financial statement that shows....
The Net Income or Loss for a period of time
The Net Income of the company
The Net Income or Loss for a specific date
congrats
Try again!
wrong
Try again
Financial Statement QUIZ
Janelle Vernon
Created on October 10, 2021
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Transcript
Quiz
financial statements
Start
1/5
An Increase in the Statement of Changes in the Owner's Equity Means......
The owner’s claims to the assets of the business have been decreased.
The owner’s claim to the assets of the business have grown.
There is a mistake in the report that must be reviewed and corrected
right answer
Continue with the quiz
2/5
The Statement of Changes in Owner's Equity.....
Report the assets of the business and the claims against them on a specific date.
Reports the net income or net loss for a specific period of time.
Summarizes changes in the owner’s capital account as the result of business transactions that occur during the period
right answer
His audiam deserunt in, eum ubique voluptatibus te. In reque dicta usu. Ne rebum dissentiet eam, vim omnis deseruisse id. Ullum deleniti vituperata at quo.
3/5
The information required to prepare the Changes in Owner's Equity statement is taken from....
The balance sheet section of the work sheet, the income statement and the general ledger.
The balance sheet section of the work sheet and the income statement
The balance sheet section of the worksheet and the general ledger
right answer
His audiam deserunt in, eum ubique voluptatibus te. In reque dicta usu. Ne rebum dissentiet eam, vim omnis deseruisse id. Ullum deleniti vituperata at quo.
4/5
The Income Statement is prepared using information from ......
General Journal
Ledger
Worksheet
right answer
His audiam deserunt in, eum ubique voluptatibus te. In reque dicta usu. Ne rebum dissentiet eam, vim omnis deseruisse id. Ullum deleniti vituperata at quo.
5/5
The Income Statement is the first financial statement that shows....
The Net Income or Loss for a period of time
The Net Income of the company
The Net Income or Loss for a specific date
congrats
Try again!
wrong
Try again