Revenues ? cost of goods sold ? expenses = net income characterizes which financial statement?
A. Balance sheet
B. Statement of retained earnings
C. Statement of cash flows
D. Statement of financial position
E. Income statement
Answer: E
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An important reconciliation in the payroll system is
a. general ledger compares the labor distribution summary from cost accounting to the disbursement voucher from accounts payable b. personnel compares the number of employees authorized to receive a paycheck to the number of paychecks prepared c. production compares the number of hours reported on job tickets to the number of hours reported on time cards d. payroll compares the labor distribution summary to the hours reported on time cards
Which of the following is an example of an investing activity?
A) Purchasing a building B) Paying off a loan C) Employing workers D) Producing goods and services
The _____ shows the relation between net income and cash flows from operations, and changes in assets and liabilities that involve cash flows
a. balance sheet b. statement of cash flows c. income statement d. funds flow statement e. cash receipts and cash disbursement statement
English is more easier for Kim than math is
What will be an ideal response?