Which Two Basic Statements Provide Most of the Financial Data

question 96

Multiple Choice

Which two basic statements provide most of the financial data needed for analysis?

• A) statement of retained earnings and income statement
• B) sources and uses of working capital and the balance sheet
• C) non-operating gains and losses and statement of financial position
• D) historical income statement and balance sheet
• E) statement of financial position and statement of owner's equity

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Definitions:

Conflict Theory

A sociological perspective that views social life as a competition, and emphasizes the role of coercion and power in producing social order.

C. Wright Mills

Refers to an American sociologist known for his works on the structure of power in the U.S. and the role of the sociological imagination in understanding personal and societal issues.

Robert Merton

An American sociologist known for his theories on social structure, norms, and deviance.

Protestant Ethic

A concept in sociology that links hard work, frugality, and efficiency with the values of Protestantism as key to economic success.