Academic Integrity: tutoring, explanations, and feedback — we don’t complete graded work or submit on a student’s behalf.

1.Which financial statement is divided into two important parts: operating and n

ID: 2734999 • Letter: 1

Question

1.Which financial statement is divided into two important parts: operating and nonoperating sections. It is also known as the profit and loss statement.

a.Statement of Retained Earnings

b.Balance Sheet

c.Statement of Cash Flows

d.Income Statement

2.Which financial statement provides a quantitative summary of a company's assets, liabilities, and networth?

Income Statement

Balance Statement

Statement of Cash Flows

Statement of Retained Earnings

Income Statement

Balance Statement

Statement of Cash Flows

Statement of Retained Earnings

Explanation / Answer

1) Income statement

2) Balance sheet