Answer in all option The components of financial statements are: 1. Statement of Retained Earnings 2. Statement of Changes in FinancialPosition 3. Income Statement & Balance Sheet 4. All of the above.

Explanation for the Correct Answer: All of the AboveThe correct answer to the question "Which of the…

Answered: The components of financial statements…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 41MC: Which of the following financial statements should be prepared first? A. Balance Sheet B. Income...

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Classification of Financial Statement Items Classify each of the following items according to (1) whether it belongs on the income statement (IS) or balance sheet (BS) and (2) whether it is a revenue (R), expense (E), asset (A), liability (L), or stockholders equity (SE) item.
According to Statement of Financial Accounting Concepts No. 8, to be relevant an earnings report is expected to have which of the following?
Which of the following financial statements should be prepared first? A. Balance Sheet B. Income Statement C. Retained Earnings Statement D. Statement of Cash Flows
Identify the financial statement on which each of the following account categories would appear: the balance sheet (BS), the income statement (IS), or the retained earnings statement (RE). Table 3.21
In general, how does the income statement help satisfy the objectives of financial reporting?
On which financial statement would the Dividends account appear? A. Balance Sheet B. Income Statement C. Retained Earnings Statement D. Statement of Cash Flows
What data flows from the statement of retained earnings to the balance sheet?a. Net incomeb. Cashc. Ending retained earningsd. Assets
Accounts Receivable will appear on which of the following financial statements?a. Income statementb. Statement of retained earningsc. Balance sheetd. Statement of cash flows
Net income appears on which financial statement(s)?a. Balance sheetb. Income statementc. Statement of retained earningsd. Both b and c
What item flows from the statement of retained earnings to the balance sheet?a. Cashb. Dividendsc. Net incomed. Retained earnings
it of What is considered a summary of profit or loss? Select one: a. Retained earnings b. Dividends c. Income statement d. Balance sheet
The retained earnings statement should be prepared a. before the income statement and balance sheet b. after the income statement and before the balance sheet C. before the income statement and after the balance sheet d. after the income statement and balance sheet

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The components of financial statements are: 1. Statement of Retained Earnings 2. Statement of Changes in Financial Position 3. Income Statement & Balance Sheet 4. All of the above.