The Common Set of Academic Standards Endorsed by the National

question 54

Multiple Choice

The common set of academic standards endorsed by the National Governors Association is known as the

• A)National Curriculum.
• B)No Child Left Behind initiative.
• C)Cross-State Program
• D)Common Core State Standards

---

Definitions:

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, indicating profit or loss.

Partners' Capital Statement

A financial statement that shows the changes in each partner’s equity in the business over a specific period of time.

Drawings

Withdrawals of cash or other assets from a business by the owner for personal use.

Capital Statement

A financial statement that outlines the changes in owners' equity over a specific period.