Page 4 - Objective (1)

Question 18

Q. In the __________, the classification of balance sheet accounts are shown one under the
other.
answer choices

1. report form
2. work sheet
3. income statement
4. balance sheet

Question 19
Q. The __________ reports a business's net income or net loss over an entire fiscal period.

answer choices
1. work sheet
2. heading
3. income statement
4. balance sheet
Question 20

Q. The source of information for completing the balance sheet comes from the work sheet and
the __________.

answer choices

1. statement of changes in owner's equity
2. income statement
3. heading
4. report form

Question 21
Q. The __________ of a financial statement answers the questions: Who?, What?, and When?

answer choices
1. bottom
2. middle
3. heading
4. none of the above