When Preparing the Financial Statements for a Company

question 161

Multiple Choice

When preparing the financial statements for a company:

• A)the report format of the income statement lists liabilities before assets.
• B)the account format for the balance sheet lists the assets on the left and liabilities and stockholders' equity on the right.
• C)the multistep balance sheet lists assets in order of their liquidity.
• D)the single-step income statement reports a number of subtotals.

---

Definitions:

Survivorship Curve

Graph showing how many members of a cohort remain alive over time.

Death Rate

The average number of deaths per unit of population over a given period of time.

Ecological Footprint

A measure of how much land and water area a human population requires to produce the resources it consumes and to absorb its wastes, using prevailing technology.

Earth's Surface

The outermost layer of the Earth that includes both land and water bodies.