The balance sheet reports financial information ____.
Accounting Review Ch 9

Quiz
•
Business
•
11th - 12th Grade
•
Medium

Tamara Haight
Used 17+ times
FREE Resource
40 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
on a specific date
at the end of a period
from the income statement
from ratios
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The information needed to prepare the income statement comes from the____.
statement of changes in owner's equity
general journal
Balance Sheet section of the work sheet
Income Statement section of the work sheet
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
____ summarize the changes resulting from business transactions that have occurred during an accounting period.
balance sheet
profitability ratios
financial statements
net income
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
____ is reported on the income statement
Net income or net loss
A profitability ratio
A financial statement
Net Worth
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A(n) ____ is the financial statement that reports the final balances in all asset, liability, and owner's equity accounts at the end of the accounting period.
general ledger
statement of changes in owner's equity
income statement
balance sheet
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In the ____, the classifications of balance sheet accounts are shown one under the other.
general journal
work sheet
report form
income statement
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
One source of information for completing the balance sheet is the ____.
Income Statement section of the work sheet
Balance Sheet section of the work sheet
financial statement
ledger
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