Which of the Following Is NOT One of the Basic

question 23

Multiple Choice

Which of the following is NOT one of the basic rules of Kickstarter?

• A)Projects must create something to share with others.
• B)Projects must launch products within two months.
• C)Projects must be honest and clearly presented.
• D)Projects cannot fund-raise for charity.

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Definitions:

Financial Statements

Consolidated records of the financial activities of a business, entity, or individual, including the balance sheet, income statement, and cash flow statement.

Temporary Accounts

Income statement (and sometimes Dividends Declared) accounts that are closed to Retained Earnings at the end of the accounting period.

Balance Sheet

A summary report of a company's financial position, including assets, liabilities, and the equity of its shareholders, at a distinct time.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and profit or loss.