Match Each Account Name to the Financial Statement Section (A-I)

question 156

Multiple Choice

Match each account name to the financial statement section (a-i) in which it would appear.
-Loss on Disposal of Asset

• A)Current assets
• B)Fixed assets
• C)Intangible assets
• D)Current liability
• E)Long-term liability
• F)Owner's equity
• G)Revenues
• H)Operating expenses
• I)Other revenue and expense

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Definitions:

Consolidated Balance Sheet

A financial statement showing the combined assets, liabilities, and equity of a parent company and its subsidiaries.

Non-controlling Interest

A shareholder's equity in a subsidiary that is not attributable to the parent company, representing minority ownership.

Consolidated Net Income

The total earnings of a corporation, after tax, including earnings from subsidiaries, before distributing dividends.

Cost Method

An accounting approach where investments are recorded at their acquisition cost, without adjustment for increases or decreases in market value.