Whereas the ______ Reflects a Company's Financial Situation at a Specific

question 102

Multiple Choice

Whereas the ______ reflects a company's financial situation at a specific point in time,the ____ indicates the flow of resources that reveals the performance of the organization over a specific time period.

• A)statement of changes in retained earnings; balance sheet
• B)income statement; balance sheet
• C)statement of cash flows; income statement
• D)balance sheet; income statement

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Definitions:

Industry Classification Codes

Numerical codes assigned to businesses and organizations to categorize them according to their main production processes, facilitating industry analysis and comparison.

NAICS

The North American Industry Classification System, which organizes business establishments by their type of economic activity.

Women Owning Business

Refers to enterprises that are majority-owned by women, showcasing gender diversity in entrepreneurship.

Hispanic-Owned Businesses

Enterprises owned and operated by individuals of Hispanic heritage, contributing to the economic diversity and development.