Q11. Income statement What are the items reported on the income statement of an entity? A11. Examples of items reported on the income statement include
Q10. Balance sheet What are the items reported on the balance sheet of an entity? A10. Examples of items reported on the balance sheet include
Q8. Cash receipt What does a journal entry look like when cash is received? A8. An increase in cash is recorded on the debit side
Q9. Information provided by financial statements Which information does each financial statement provide? A9. (1) Balance sheet a. Information about assets, liabilities and stockholders’ equity
Q8. Financial statements What are the financial statements prepared by an entity? A8. Financial statements include the following: (1) Balance sheet (2) Income statement (3)
Q7. List of stock market related ratios What are the key financial ratios that use information from the stock market? A7. Stock market related ratios