Int. Accounting (Ch.3) Financial Statement Questions

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Dbadams94
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308169
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Int. Accounting (Ch.3) Financial Statement Questions
Updated:
2015-09-19 23:57:24
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ACC
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ACC
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  1. Order of financial statements. (ISSBS)
    • 1. Income statement
    • 2. Statement of Comprehensive Income
    • 3. Statement of Retained Earnings
    • 4. Balance Sheet
    • 5. Statement of Cash Flows
  2. Formula for income statement.
    Revenues/Gains - Expenses/Losses
  3. The income statement is also known as the...
    Statement of Operations
  4. The statement of retained earnings is also known as the...
    statement of owner's equity
  5. Formula for Statement of RE.
    • Beg. Balance
    • + NI
    • - Dividends
    • End Balance
  6. Financial statement that is "a snapshot of a company's financial position at a moment in time."
    Balance Sheet
  7. Obligations owed by the company.
    Liabilities
  8. Resources that are owned by the company.
    Assets
  9. Financial statement that reflects the amounts and uses of cash inflows and outflows.
    Statement of Cash Flows
  10. 3 categories of activities included in the statement of cash flows. (OIF)
    • 1. Operating
    • 2. Investing
    • 3. Financing
  11. Which activity on the statement of cash flows does a company want to be the largest? (O, I, or F?)
    Operating

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