The Two Fundamental Accounting Statements Are The____________ and The____________

question 13

Short Answer

The two fundamental accounting statements are the____________ and the____________ .

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Definitions:

Public Sources

Information available from non-confidential sources, such as government publications, libraries, and the Internet, that can be accessed by the general public.

Personal Sources

Individuals or personal contacts from whom one can obtain information, advice, or support, especially relevant in decision-making processes.

Evaluative Criteria

The standards or benchmarks that consumers use to compare and judge products or services during the decision-making process.

Objective Attributes

Features or characteristics of a product or service that can be quantitatively measured.