The Balance Sheet Reports

question 75

Multiple Choice

The balance sheet reports:

• A)assets,liabilities and stockholders' equity.
• B)the changes in retained earnings.
• C)assets,liabilities,revenues and expenses.
• D)revenues and expenses.

---

Definitions:

Future Profits

Anticipated earnings or profits that a business expects to generate in the future based on current plans and projections.

Current Extraction

The process of removing natural resources from the environment for immediate use.

Decrease

A reduction in size, number, value, or extent.

Oil Company

A business entity engaged in the exploration, extraction, refining, transportation, and sale of petroleum products.