The Financial Segment Includes

question 19

Multiple Choice

The financial segment includes

• A)the pro forma balance sheet.
• B)the profit statement.
• C)the cost statement.
• D)the R & D statement.

---

Definitions:

Straight-Line Depreciation

A method of allocating the cost of an asset evenly over its useful life.

Accumulated Depreciation

The total depreciation of an asset up to a single point in its life, showing how much value has been diminished over time.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thereby resetting the temporary accounts for the next period.

Retained Earnings

The portion of a company's profits that is kept or retained and not paid out as dividends to shareholders, often used for reinvestment in the business or to pay debt.