Author Question: A balance sheet ________. A) describes the financial situation of a company at a specific point ... (Read 95 times)

dejastew

  • Hero Member
  • *****
  • Posts: 562
A balance sheet ________.
 
  A) describes the financial situation of a company at a specific point in time
  B) is a summary of all of the revenues minus all of the expenses for an accounting period
  C) shows the changes that took place in the amount of shareholders' equity during a period
  D) is a list of all the cash collected and cash paid during a period

Question 2

Preparing a bank reconciliation enables a company to ________.
 
  A) locate any errors, whether made by the bank or by the company
  B) make adjustments for transactions that have already been recorded in the accounting records
  C) make adjustments in the cash accounts
  D) update the bank statements



djpooyouma

  • Sr. Member
  • ****
  • Posts: 325
Answer to Question 1

A

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Medication errors are three times higher among children and infants than with adults.

For a complete list of videos, visit our video library