Author Question: The income statement comes in two basic formats, the multiple-step and the single-step versions; ... (Read 132 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?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

For a complete list of videos, visit our video library