Which of the Following Financial Statements Reports That Total Assets

question 49

Multiple Choice

Which of the following financial statements reports that total assets are equal to total liabilities plus total stockholders' equity?

• A)Statement of owner's equity
• B)Statement of cash flows
• C)Income statement
• D)Balance sheet

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Definitions:

Proximate Cause

The primary cause that, in a natural and continuous sequence, unbroken by any efficient intervening cause, produces an event and without which the event would not have occurred.

Causation

A principle in law establishing the cause and effect relationship between an action and its outcome.

Forgeries

The illegal act of creating, altering, or imitating objects, statistics, or documents with the intent to deceive.

Art Gallery

A space or building where works of art are displayed and sometimes sold to the public.