This topic contains a solution. Click here to go to the answer

Author Question: Describe the purpose of the income statement, the balance sheet, and the statement of cash flows. ... (Read 144 times)

HudsonKB16

  • Hero Member
  • *****
  • Posts: 535
Describe the purpose of the income statement, the balance sheet, and the statement of cash flows.
 
  What will be an ideal response?

Question 2

Kendell Adams owns a software development company. When he first launched his firm, he was careful to hire employees who had the experience he was looking for, were good matches for the positions he had available, and could be properly supervised.
 
  As Kendell's firm has grown, and his need for employees has increased, he is finding that it is increasingly difficult to find employees who have the qualifications he is looking for, are good matches for the positions he has available, and fit within the supervisory framework he has developed. Kendell is dealing with an issue referred to as ________.
  A) adverse hazard
  B) adverse selection
  C) complicated hazard
  D) ethical hazard
  E) moral selection



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ecox1012

  • Sr. Member
  • ****
  • Posts: 344
Answer to Question 1

The income statement reflects the results of the operations of a firm over a specified period of time. It records all the revenues and expenses for the given period and shows whether the firm is making a profit or is experiencing a loss. Unlike the income statement, which covers a specified period of time, a balance sheet is a snapshot of a company's assets, liabilities, and owners' equity at a specific point in time. The statement of cash flows summarizes the changes in a firm's cash position for a specified period of time and details why the change occurred. The statement of cash flows is similar to a month-end bank statement. It reveals how much cash is on hand at the end of the month as well as how the cash was acquired and spent during the month.

Answer to Question 2

B




HudsonKB16

  • Member
  • Posts: 535
Reply 2 on: Jul 6, 2018
YES! Correct, THANKS for helping me on my review


dyrone

  • Member
  • Posts: 322
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

The average adult has about 21 square feet of skin.

For a complete list of videos, visit our video library