Match the Following Items to the Financial Statement Where They

question 17

Essay

Match the following items to the financial statement where they can be found.
(Hint: Some of the items can be found on more than one financial statement.)
A. Balance sheet
B. Income statement
C. Statement of cash flows
D. Statement of owner's equity $\begin{array}{|l|l|}\hline & \text { Item } \\\hline 1 . & \text { Withdrawals } \\\hline 2 . & \text { Revenues } \\\hline 3 . & \text { Supplies } \\\hline 4 . & \text { Land } \\\hline 5 . & \text { Accounts payable } \\\hline 6 . & \text { Accounts receivable } \\\hline 7 . & \text { Operating activities } \\\hline 8 . & \text { Wages expense } \\\hline 9 . & \text { Net income } \\\hline 10 . & \text { Cash } \\\hline\end{array}$

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Definitions:

Sales Mix

The combination of products or services that a company sells, typically influencing the company's profits and strategy.

High-margin Items

Products or services that generate a significantly higher percentage of profit relative to their sales price.

Incremental Analysis

An analytical approach that focuses only on those costs and revenues that change as a result of a decision.

Break-even Point

The point at which total revenues equal total costs, resulting in no net loss or gain for the business.