Your Supervisor, Ms

question 32

Multiple Choice

Your supervisor, Ms. Applebee, is asking you to provide her with the cost of equipment the firm owns. Where will you look for it?

• A)in a balance sheet under the Current Assets
• B)in a balance sheet under the Long-Term Assets
• C)in an income statement under the Operating Expenses
• D)in an income statement under the Revenues
• E)in an income statement under the Expenses

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Definitions:

Capital Account

Represents the net change in physical or financial asset ownership for a nation and includes investments and loans into or out of the country.