Which of the Following Is a True Statement

question 96

Multiple Choice

Which of the following is a true statement?

• A) Accounting income is generally equal to firm cash flow.
• B) Accounting statements are usually prepared to match the timing of income and expenses.
• C) The statement of financial position equity account represents the market value of the firm to shareholders.
• D) The statement of financial position tells investors exactly what the firm is worth.
• E) Assets are usually listed on the statement of financial position at market value.