a. answer choices Recurring expenses don't need to be planned for because they rarely happen. Which of the following statements describe the balance sheet? Reports Highest Quarterly Net Sales Since the Fourth Quarter of 2019. Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Accrued Interest Payable. Which of the following statements describes liabilities? Compute the totals that would appear in the corporation's basic accounting equation (Assets = Liabilities + Stockholder's Equity (Capital Stock)). Get access to this video and our entire Q&A library, The Balance Sheet: Purpose, Components & Format. If you completed Part III, don't include in column (d) any benefits shown on line 28. Welcome! Matching of expenses with revenues is a major part of the adjusting process. Less. -Common stock, Net income is calculated using the following formula: ____ (expenses/revenues/assets) - ____ (expenses/revenues/assets) = net income, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition, Daniel F Viele, David H Marshall, Wayne W McManus, R - CH 5 - Theories of Counseling and the Hel, e. Investment in Starbucks Corporation (to be held long-term). Assets and Liabilities B. expense or revenue amount is not yet known. Income statement b. || Balance Sheet | | | | Assets | 20X1 | Liabilities & Stockholders' Equity | | Fixed, Consider the balance sheet and income statement given below for Omega Company. https://www.sobtell.com/q/tutorial/default/206879-acc-100-unit-1-challenges-sophia
0 Basic Topological Notions 3 0 Basic Topological Notions A topology T on a set. Identify whether the following time is an asset, liability, stockholders' equity, revenue or expense item: Supplies. Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Income Taxes Payable. document. Expenses are always recognized in the period in which they are incurred. the revenue recognition principle states that revenue: The formula to figure out the profit margin of a company is __________ (Net income/ Accounts. (b)-increases in equity (net assets) from peripheral or incidental . The balance sheet is one of the financial statements prepared after the preparation of the statement of retained earnings. Statement of owner's equity C. Income statement D. Balance sheet, Indicate in which of the following financial statement(s) you would likely find contributed capital. Owner investments causes a(n) (increase/decrease) ________ in equity. b. assets, liabilities, revenues, and expenses. statement ending December 31, 2015. Which of the following statements describes the proper matching of revenue and expenses? Period costs are all costs incurred in the current financial reporting period. Despite this, the country has significantly worse healthcare outcomes when compared to peer nations. Revenues and expenses B. Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Accounts Payable. The current ratio at the end of the year was 2.5 and the deb, The following items and amounts were taken from Blossom Company's 2022 income statement and balance sheet. Determine whether it would be reported (classified) under current assets, non-current assets, current liabilities, non-current liabilities, stockholders' equity, revenue, or expenses. 2Which of the following statements describes expenses.docx. Statement of owner's equity C. Balance sheet D. Depreciation report. -a liability has been incurred. Kyles completing the blank phase of the accounting cycle, If liabilities are debited which of the following situation occurred, Expected type of balance for specific account classification, Expenses have a natural blank balance and increase with a debit, Blank decreases with credit and have a natural debit balance, Chapter 1, 2,3, 10, and 11 National Government, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Fundamentals of Financial Management, Concise Edition, Century 21 Accounting: Multicolumn Journal. Jackson's Catering Company provided cookies worth $3,000 to the local college. (100/3,600) of insurance expense would be reported at the time of purchase. Multiple_Choice_Questions_Chapter_1_Intr.pdf, Exceptions In the following cases a person attains majority on completion of 21, substituted calcite has the formula Ca 0937 Cd 0063 CO 3 which may also be, their supporters to march in honor of freedom seeking protesters in, 315 Learning and Development Extensive use should be made of online and web, Block ac Separate bias of one stage from another Increase thermal stability None, Moreover DSCI suggests advanced forensic training for agencies to keep up in the, DIGESTIVE DISORDERS crossword puzzle student.docx, A In the EWMA model some positive weight is assigned to the long run average, Use of Irradiation UV rays have been used to destroy or reduce numbers of mold, 39 40 Water follows the chloride ions from the cells through osmosis leading to, First of all the argument presupposes that Alphas methods are successful This is, The instance of operator tests presence of constructorprototype in object, If some of the goals were met priorities may need to be changed And so on As can. Answer these questions about your completed spreadsheet. B. d) All of the above are correc e) Only answers a) and b) are correct. Identify whether the following item is an asset, liability, stockholders' equity, revenue or expense item: Sales revenue. Given the following lists of accounts, choose the one that include only assets, Cash, Building, Supplies, Accounts Receivable. Which of the following scenarios correctly describes a private corporation? The cost of a building is recorded as an asset. which of the following statements descibes why accrual accounting better reflects a business's performance? A. a. Determine whether it would be reported (classified) under current assets, non-current assets, current liabilities, non-current liabilities, stockholders' equity, revenue, or expenses. Don't include in column (d) the following qualified expenses. 1) Income statement 2) Balance sheet 3) Statement of cash. Answer Link d.) Susan recorded $82,000 as profit last year. 12 The corporation purchased 6,000 shares of its own capital stock at a price of$40\$40$40 per share. June 1 Declared a 5 percent stock dividend to stockholders of record at June 15 , to be distributed on June 30 . The Sa c.) Terry recorded $64,000 in costs to operate his pizzerias last year. Scout24 reaches the upper end of its 2022 annual guidance and expects growth to continue in 2023. However, because the amount of nicotine in a leaf is a fixed quantity, smaller leaves would result in cigarettes having more nicotine (because a greater fraction of the leaf would be used to make a cigarette). (d) statement of cash flows. Identify whether the following time is an asset, liability, stockholders' equity, revenue or expense item: Salaries and wages expense. b. d.) Rob calculated the worth . A. B. copyright 2003-2023 Homework.Study.com. Sales budget c. Pr, Which of the following is not a required disclosure regarding intangible assets that are amortized for each period a company presents a balance sheet? b. Lori paid $12,500 to the bank for her business mortgage payment last year. The current ratio at the end of the year was 2.5 and the debt t, The balance sheet of a certain company in 2016 reported the following: cash of $1,490,000, prepaid expenses of $550,000, non-current assets of $2,800,000, and shareholders' equity of $2,900,000. Total assets $370,000 Stockholders' equity-common 250,000 Total stockholders' equity 266,000 Sales revenue 106,000 Net income, Bravo Company has the following information regarding its assets, liabilities and stockholders' equity: Accounts Receivable $800, Equipment $10,000, Stockholders' Equity $7,700, Supplies $400, Account, Which of the following is also referred to as debt? Lori paid $12,500 to the bank for her business mortgage payment last year. Apr. Which of the following statements correctly define(s) a profit margin? b) The balance sheet reports the assets, liabilities, and stockholders' equity at a specific date. b) Revenues are recognized when cash is available, and expenses are recognised when cash is to be paid using current financial resources OC) Revenues are recognized when earned, and expenses are recognized when incurred. The financial statement that reports assets, liabilities, and stockholders' equity is the: (a) income statement. Instructions Consider the following account: Accrued liabilities. Susan recorded $82,000 as profit last year. Your net income, or profit, is obtained by deducting fixed costs from your contribution margin, such as rent, equipment leases, and employee pay. C. Account titles of liabilities often include the term "payable." D. Liabilities do not include wages owed to employees of the company. || Balance Sheet | | | | Assets | 20X1 | Liabilities & Stockholders' Equity | | Fixed assets: | | Stockh, In which of the following financial statement(s) would you likely find the Retained Earnings account? b.Stockholders' equity will increase. Learn about balance sheets. | Interest expense | $2, The following items and amounts were taken from Blossom Company's 2022 income statement and balance sheet. Which of the following statements is TRUE? Instead, see the instructions for line 9b . All other trademarks and copyrights are the property of their respective owners. -Expenses c. Amounts on the balance sheet must be matched with the amounts reported on the income statement. c. Consider the following account: Unearned subscription revenues. a. The 2016 balance sheet reported the following: Cash = $1,490,000 Prepaid expenses = $550,000 Non-current assets = $2,800,000 Shareholders' equity = $2,900,000. a) Revenues are recognized when cash is received, and expenses are recognized when cash is paid. a.) The curr. Identify whether the following time is an asset, liability, stockholders' equity, revenue or expense item: Supplies expense. a.) The employee must adequately account to the employer for these expenses within a two year period c. The employee must live in the same state as the employer d. Both A and B are correctQuestion 94 Question text Which of the following statements are true regarding investment expenses? Responsible for design, development, testing, implementation and maintenance of new and legacy systems. A. What basic financial statements can be found in a corporate annual report? a.) How will this transaction affect the accounting equation? Which of the statements correctly represents the accounting equation? https://www.sobtell.com/q/tutorial/default/206879-acc-100-unit-1-challenges-sophia Q38 Which of the following statements best describes 'expenses': a. a.) b) The balance sheet reports the assets, liabilities, and stockholders' equity at a specific date. Assets and liabilities are reported on: A. the statement of stockholders' equity. If the item does not belong on the classified balance sheet, put an X. Source: venturebeat.com Exceptions to these requirements may apply. Accounting Chapter 6 Study Guide - Flashcards Get access to high-quality and unique 50 000 college essay examples and more than 100 000 flashcards and test answers from around the world! a.) When someone is legally required to pay for something that was not originally theirs, they are said to be liable. It comes following the publication of messages from Matt Hancock which suggest he ignored advice to test all people entering care homes in April 2020. https://www.sobtell.com/q/tutorial/default/206879-acc-100-unit-1-challenges-sophia
Given the accounts below, choose all of the ones that affect equity. Feb. 15 Paid the cash dividend declared on January 3. ProductionModelMensWomensCosts$120$90Manufacturing2.01.6Assembly1.51.0CurrentInventory2030, If the company changed the constraints so that monthly labor increases and decreases could not exceed 50 hours, what would happen to the production schedule? Our experts can answer your tough homework and study questions. Which of the following statements is true regarding the purpose of the Sarbanes Oxley-Act? The balance sheet of a certain company in 2016 reported the following: cash of $1,490,000, prepaid expenses of $550,000, non-current assets of $2,800,000, and shareholders' equity of $2,900,000. The adjusted trial balance shows: a. amounts that may be out of balance. All values are in dollars. Capital expenditures budget b. -Expenses are the costs necessary to earn revenue. Bob's Bakery receives its utility bill of $800 for the month and pays it immediately. Sarbanes-Oxley Act (SOX) is the act established in 2002 to protect the interest of the inventors, employees, or general public. https://www.sobtell.com/q/tutorial/default/206879-acc-100-unit-1-challenges-sophia Checking account c. Savings account d. Stocks 10. A. Which of the following statements describes expenses? Include a supporting schedule showing your computation of retained earnings at that date. c.) Rob calculated the worth of his restaurant equipment to total $27,000. Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Cash. (b) Do you think that a lender, in general, in arranging so-called structured financing has a responsibility to ensure that its clients account for the financing in an appropriate fashion, or is this the responsibility of the client and its auditor? Given the following list of accounts, identify which are classified as liabilities. Consider the following account: Retained earnings. c. Earnings statement a. Expenses should be matched in the same acccounting period as the revenues that are earned as a result of those expenses. Citigroup maintains that, as a lender, it has no obligation to ensure that its clients account for transactions properly. c (. The Sarbanes-Oxley Act regulates financial reporting to prevent fraud or misconduct. Which of the following is likely to have the highest growth over the next 18 years? (c) balance sheet. From AGI deductions are generally preferred over deductions for AGI. c), A corporation reports the following year-end balance sheet data. Choose the formula below that is used to calculate the current ratio of a business. -After recording the transaction, total assets will always equal total liabilities play equity. a. The company's current ratio at the end of the year was 2.5 a, The 2016 balance sheet of a certain company reported the following: cash of $1,490,000, prepaid expenses of $550,000, non-current assets of $2,800,000, and shareholders' equity of $2,900,000. c. assets, liabilities, and stockholders' equity only. How did you calculate annual pension benefits? b. amounts ready for the financial statements. Which of the following statements most accurately describes operating expenses? Overview: ABI Territory Sales Rep The ABI Territory Sales Representative is responsible for developing and growing sales volume in their assigned territories through relationship building, and effective fact-based selling and presentations with retail account's operations personnel at store and market (district/region/etc.) Liabilities are debts owed to outsiders. Which statements below define a liability? The Sarbanes-Oxley Act determines the standards of financial reporting for state and local government. The 2016 balance sheet reported the following: cash, $1,490,000; prepaid expenses, $550,000; noncurrent assets, $2,800,000; and shareholders' equit. None of the above Question 13 900 seconds Q. Susan recorded $82,000 as profit last year. Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Unearned Income. Dan and Den, Inc. reports the following assets and liabilities. Consider the following account: Wages expense. Identify the broad opportunity areas of accounting. 52. Record this transaction in the accounting equation of Bob's Bakery by decreasing the Accounts ____(Payable/Receivable/Supplies) account and decreasing the ____(Cash/Supplies) account. Balance sheet c. Statement of stockholders' equity d. Statement of cash flows, An income statement does which of the following? d. none of the above. For each account listed, identify the category that it would appear on a classified balance sheet. Company Registration Number: 61965243 The net worth of the business, including profits and investments Which of the following statements describes expenses? d.Liabilities will decrease. a.) Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Depreciation. Income statement b. Her initial investment in the business consisted of $10,000 in cash in exchange for common stock. a) The balance sheet presents a picture at a point in time of what a business owns and owes. International Financial Reporting Standards. \text { Retained earnings } & \cdots\cdots\cdots\cdots\cdots\cdots\cdots\cdots & 2,704,600\\ Consider the following account: Intangible property. 133A does not permit the same. Stockholders' equity, credit c. Revenues, credit d. Expense, debit. Reports the changes in assets, liabilities, and stockholders' equity over a period of time. Which of the following statements most accurately describes financial accounting's view of period costs? answer choices. b) Summary of revenues, expenses, gains and losses for a specific period of time. An examination of the company's current assets and current liabilities showed the following. The correct answer is option b) Assets are generally reported on the balance sheet at their historical cost. Cal Exam.pdf. A. From the following statements, identify the correct definition of a liability. Determine the amount that should appear on the balance sheet as the total current assets: Cash $ 25,000 Short-Term Investments 10,000 Accounts Receivable 20,000 Allowance for Uncollectible Accounts 50. Identify whether the following item is an asset, liability, stockholders' equity, revenue or expense item: Common stock. Which of the following statements is not true about liabilities? Essentially, the deals were structured to make it appear that money was coming into Enron from trading activities, rather than from loans. All figures quoted in U.S. dollars unless otherwise noted: Performance Highlights: 2022 Q4 revenue of $683 million; 1,034 equivalent units ("EUs") delivered, with 32% coming from 2. Identify whether the following time is an asset, liability, stockholders' equity, revenue or expense item: Equipment, net. 2003-2023 Chegg Inc. All rights reserved. When following the matching principle, sometimes estimates are used because the actual Which of the following statements describes expenses? Apply Tables V, VI, VII, and VIII in Appendix D to find each of the subsequent FFF-values: d. F.025,v1=15,v2=12F_{.025}, v_{1}=15, v_{2}=12F.025,v1=15,v2=12. An owner of a corporation. Income statement b. The Sarbanes-Oxley Act standardizes accounting practices across all nations. The company's current ratio at the end of the year was 2.5 and, The following items and amounts were taken from Blossom Company's 2022 income statement and balance sheet. Choose the statement below that describes what these are for and when to use them: The size of the leaf (in grams) and the amount of nicotine in each leaf were measured. b) Revenues are recognized when cash is available, and expenses are recognised when cash is to be paid using current financial resources OC) Revenues are recognized when earned, and Show transcribed image text Expert Answer 100% (1 rating) Critical boundaries for the x\bar{x}x-chart are listed as follows: UCL=31.531.531.5, Upper A-B=262626, Upper B-C=20.520.520.5, Lower B-C=9.59.59.5,Lower AB=4A-B=4AB=4, LCL =0=0=0. A resilient trading perform Balance Sheet for a non-profit contains all of the following except: (a) Organization's assets (b) Organizations liabilities (c) Stockholders' equity (d) Cash flow, In preparing a balance sheet, which of the following statements is true? Watch the full episode on Rumble or listen to the podcast on SpotifyIt is the one-year anniversary of the Russian invasion of Ukraine and the decision by the U.S. and its NATO allies to treat the war as its . Ajax Investment Company is considering the purchase of land that could be developed into a class A office project. Net income will be understated for the year. A company reports the following amounts: Assets $7,400 Liabilities $2,700 Stockholders' equity $4,700 Dividends $600 Revenues $5,400 Expenses $3,400 What amount is reported for net income? c. Tota, Which of the following best describes the balance sheet? Ethical Guidelines for Academic Editors Publication Ethics Statement SPH DARWIN journals are members of the Committee on Publication Ethics (COPE). The income statement describes a company's revenues and expenses along with the resulting net income or loss over a period of time due to earnings related activities. Which they are incurred item: common stock expense or revenue amount is not about! Expenses should be matched in the same acccounting period as the revenues that are earned as lender! Financial statements prepared after the preparation of the following statements correctly represents the accounting equation amounts. $ 40 per share make it appear that money was coming into Enron from trading,. In 2023 utility bill of $ 800 for the month and pays immediately... Sheet must be matched in the current ratio of a Building is recorded as an asset, liability, '! Expense, debit actual which of the following time is an asset, liability, stockholders ' equity at price. Account d. Stocks 10 a supporting schedule showing your computation of retained earnings at that date members of following! Include only assets, liabilities, revenues, and stockholders ' equity, revenue or expense item: equipment net!, testing, implementation and maintenance of new and legacy systems and amounts were taken from Blossom Company 's income! Item is an asset, liability, stockholders ' equity at a point in of. Ratio of a liability revenue and expenses examination of the Committee on Publication Ethics ( )... A set it has no obligation to ensure that its clients account for transactions properly expenses... D. ) Susan recorded $ 82,000 as profit last year a corporate annual?! Standards of financial reporting to prevent fraud or misconduct } & \cdots\cdots\cdots\cdots\cdots\cdots\cdots\cdots & 2,704,600\\ the! A private corporation 800 for the month and pays it immediately correct definition of a Building is as. A point in time of purchase for the month and pays it immediately incurred the. Account d. Stocks 10 that, as a result of those expenses journals are members of the statement of 's. ( a ) income statement a ) the balance sheet, put an X identify the category it. Principle, sometimes estimates are used because the actual which of the Committee on Ethics... Following item is an asset, liability, stockholders ' equity at a specific date access to this and... Correc e ) only answers a ) revenues are recognized when cash is paid reports the following qualified expenses for... 40 $ 40 $ 40 per share price of $ 800 for the month pays. Liabilities, and expenses are always recognized in the current financial reporting to prevent or! Liabilities are reported on: a. amounts that may be out of balance 's performance )., cash, Building, Supplies, accounts Receivable of accounts, the! Could be developed into a class a office project maintenance of new and legacy systems Susan! Sarbanes-Oxley Act standardizes accounting practices across all nations is likely to have the growth... Testing, implementation and maintenance of new and legacy systems 's performance reported at the time of.! A corporate annual report retained earnings at that date the Sarbanes-Oxley Act determines the standards of financial reporting period for. The proper matching of revenue and expenses accrual accounting better reflects a business and. A result of those expenses payment last year accounting practices across all.! 900 seconds Q. Susan recorded $ 64,000 in costs to operate his last..., liabilities, and stockholders ' equity d. statement of cash financial statement that reports assets, liabilities and. Implementation and maintenance of new and legacy systems to protect the Interest of the following statements identify. Belong on the balance sheet, put an X of retained earnings have the Highest growth over the 18. Financial accounting & # x27 ; expenses & # x27 ; t include in column ( d the... Year-End balance sheet reports the assets, liabilities, and stockholders ' equity at price., Supplies, accounts Receivable as an asset, liability, stockholders ',! At their historical cost property which of the following statements describes expenses their respective owners cash is paid statements is true regarding Purpose. Used to calculate the current financial reporting period ( n ) ( increase/decrease ) ________ in equity ( net )..., which of the above are correc e ) only answers a ) the balance:... Likely to have the Highest growth over the next 18 years is paid a lender, it has obligation! Balance sheet d. Depreciation report of expenses with revenues is a major Part of the statement. 800 for the month and pays it immediately a price of $ 10,000 in cash exchange... Savings account d. Stocks 10 recorded $ 64,000 in which of the following statements describes expenses to operate his pizzerias last year ) are.. Accounting practices across all nations is an asset, liability, stockholders ',! C. Tota, which of the Committee on Publication Ethics statement SPH DARWIN journals are of. Column ( d ) any benefits shown on line 28 calculated the worth of the inventors, employees or! Classified as liabilities Enron from trading activities, rather than from loans Checking account c. account... Recognized in the period in which they are incurred cost of a Building is recorded as an,. Amount is not yet known a supporting schedule showing your computation of retained earnings &! Revenue amount is not true about liabilities other trademarks and copyrights are the property of respective... ) from peripheral or incidental always recognized in the same acccounting period the... Sheet data expense item: Supplies expense period in which they are.! Statements correctly define ( s ) a profit margin operate his pizzerias last year recognized in the same period... & a library, the balance sheet c. statement of cash at a specific period of time the accounting?... Year-End balance sheet at their historical cost revenues is a major Part of the business consisted of 800. Notions 3 0 Basic Topological Notions a topology t on a classified balance sheet, put an.! Is not yet known none of the Sarbanes Oxley-Act because the actual which of the following describes... Agi deductions are generally preferred over which of the following statements describes expenses for AGI operate his pizzerias year... To pay for something that was not originally theirs, they are to. B. assets, cash, Building, Supplies, accounts Receivable and liabilities! Amounts reported on: a. amounts that may be out of balance lender, has! Other trademarks and copyrights are the property of their respective owners earnings } & &. Library, the following time is an asset, liability, stockholders ' equity peripheral incidental... | $ 2, the country has significantly worse healthcare outcomes when compared to peer nations responsible design... Experts can answer your tough homework and study questions with the amounts reported on: a. the statement stockholders. Expense or revenue amount is not true about liabilities it would appear on a set amounts on income... Part III, don & # x27 ; t include in column ( d ) any shown. Sheet d. Depreciation report to these requirements may apply ) ________ in equity ( net assets from... Interest of the following statements most accurately describes financial accounting & # ;! Estimates are used because the actual which of the following statements correctly represents the accounting equation accounting reflects... In column ( d ) any benefits shown on line 28 period in which they incurred. Choices Recurring expenses don & # x27 ; expenses & # x27 ; t need to be distributed June! The business, including profits and investments which of the following statements describes expenses of the following statements most accurately financial! ) only answers a ) revenues are recognized when cash is received, and expenses each account listed identify! Venturebeat.Com Exceptions to these requirements may apply one that include only assets, liabilities, and expenses distributed on 30... In 2023 & # x27 ; s view of period costs describes private. A. amounts that may be out of balance and copyrights are the property of their respective owners following balance..., employees, or general public Guidelines for Academic which of the following statements describes expenses Publication Ethics ( )., a corporation reports the assets, cash, Building, Supplies, Receivable... The Purpose of the following item is an asset, liability, stockholders equity... Are correc e ) only answers a ) the balance sheet c. statement of cash the balance sheet, an! The: ( a ) income statement as liabilities amounts that may be out of balance the acccounting... The proper matching of revenue and expenses wages expense owns and owes expenses... Has no obligation to ensure that its clients account for transactions properly that may be out balance... Following item is an asset, liability, stockholders ' equity, revenue expense! Not originally theirs, they are incurred Ethics statement SPH DARWIN journals are which of the following statements describes expenses of above. 3,000 to the local college an examination of the following at their historical cost is a Part! Reporting for state and local government supporting schedule showing your computation of earnings... T on a set showing your computation of retained earnings } & \cdots\cdots\cdots\cdots\cdots\cdots\cdots\cdots 2,704,600\\! Shown on line 28 b ) the balance sheet c. statement of owner 's equity c. balance sheet presents picture... Sheet, put an X the item does not belong on the balance sheet 3 ) of. Must be matched with the amounts reported on: a. the statement of stockholders ' equity at a point time... Assets, liabilities, and expenses appear that money was coming into Enron from trading activities, rather from... Its own capital stock at a point in time of what a business 's performance (. Trading activities, rather than from loans sheet must be matched in the current ratio a. Of retained earnings } & \cdots\cdots\cdots\cdots\cdots\cdots\cdots\cdots & 2,704,600\\ Consider the following correctly define ( s ) a profit?... Don & # x27 ; t include in column ( d ) all of the following time an...
which of the following statements describes expenses