Author Question: The income statement comes in two basic formats, the multiple-step and the single-step versions; ... (Read 136 times)

c0205847

  • Hero Member
  • *****
  • Posts: 531
The income statement comes in two basic formats, the multiple-step and the single-step versions; however, for analysis purposes the single-step version should be used.
 
  Indicate whether the statement is true or false

Question 2

Closing entries may be prepared from the ledger or the work sheet.
 a. True
   b. False
   Indicate whether the statement is true or false



LegendaryAnswers

  • Sr. Member
  • ****
  • Posts: 341
Answer to Question 1

T

Answer to Question 2

True



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

For a complete list of videos, visit our video library