Author Question: What basic financial statements can be found in a corporate annual report? a. Balance sheet, ... (Read 118 times)

cagreen833 · **on:** Jul 6, 2018

What basic financial statements can be found in a corporate annual report?

a. Balance sheet, income statement, statement of shareholders' equity, and statement of cash flows.
b. Balance sheet, auditor's report and income statement.
c. Earnings statement and statement of retained earnings.
d. Statement of cash flows and five-year summary of key financial data.

Question 2

Which of the following accounts will have a remaining balance after the closing process is completed?
a. Income from Services
b. Rent Expense
c. Owner's Drawing
d. Owner's Capital
e. Depreciation Expense