1-Which financial statement would show how well a company performed over the pas
ID: 2330304 • Letter: 1
Question
1-Which financial statement would show how well a company performed over the past year?
a. Balance sheet
b.income statement
c.statement of retained earnings
d.statement of cash flow
2-Which of the following is the most accurate statement regarding ethics as applied to decision making in accounting?
a.Ethics is becoming less and less important as a field of study in business.
b.Ethics has no place in accounting, because accounting deals purely with numbers.
c.It is impossible to learn ethical decision making, since it is just something you decide to do or not to do.
d.Ethics involves making difficult choices under pressure and should be kept in mind in making every decision, including those involving accounting.
3-On which financial statement would the ending balance of the account "accounts receivable" be found?
a.balance sheet
b.statement of cash flow
c.statement of retained earnings
d.income statement
Explanation / Answer
1 Income statement would show how well a company performed over the past year 2 Ethics involves making difficult choices under pressure and should be kept in mind in making every decision, including those involving accounting. 3 The ending balance of the account "accounts receivable" be found on the balance sheet
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