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On which financial statement would the supplies account appear? statement of cash flows retained earnings statement balance sheet income statement

On which financial statement would the supplies account appear? statement of cash flows retained earnings statement balance sheet income statement

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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**Question:** On which financial statement would the supplies account appear? **Options:** - ○ statement of cash flows - ○ retained earnings statement - ○ balance sheet - ○ income statement This question is designed to test knowledge of financial accounting and the classification of accounts in financial statements. The supplies account typically appears on the balance sheet as a current asset.
Transcribed Image Text:**Question:** On which financial statement would the supplies account appear? **Options:** - ○ statement of cash flows - ○ retained earnings statement - ○ balance sheet - ○ income statement This question is designed to test knowledge of financial accounting and the classification of accounts in financial statements. The supplies account typically appears on the balance sheet as a current asset.
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