State the Property or Properties That Justify the Following Statement

question 74

Multiple Choice

State the property or properties that justify the following statement.

• A)Distributive property.
• B)Commutative property of addition.
• C)Additive inverse property.
• D)Associative property of addition.
• E)Additive identity property.

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Definitions:

Financial Statement

Documents that provide an overview of a company's financial condition in both short and long term, including balance sheets, income statements, and statements of cash flows.

Permanent/Temporary

In accounting, refers to the classification of accounts based on their longevity; permanent accounts are cumulative over time (e.g., assets, liabilities, equity), while temporary accounts are closed at the end of each accounting period (e.g., revenues, expenses).

Normal Balance

The side (debit or credit) on which increases to the account are recorded, based on the type of account (asset, liability, equity, revenue, expense).

Financial Statement

A written report that quantitatively describes the financial health of a company, including balance sheets, income statements, and cash flow statements.