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Identifying Financial Statements

Identifying Financial Statements

1. The statement providesinformation about resources consumed during an accountingperiod.

2. The statement is dated asof a specific point in time.

3. The amounts that are owedto other q\organizations or individuals are reported.

4. The total amount ofcapital that has been contributed to the organization isreported.

5. The cab used for investingactivities is reported.

6.  Information is reportedregarding the rewards that have been earned from serving customersduring the accounting period just ended.

7. The cash received fromfinancing activities is reported.

8. The statement is not as ofa specific date, but covers period of time.

9. The statement containsinformation about the financial obligations that were made toacquire resources.

10. The statement reports cash inflows andoutlaws.

For each item above, indicate the financial statement for which the information is true. Use I to indicate incomestatement, B to indicate balance sheet. C to indicate cash flow statement. If an item is not true for any of the three financial statements, indicate with an N.

Apr 30 2018 Read more Less More

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