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
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