Match the Financial Statement That Goes with Each Term

question 25

Multiple Choice

Match the financial statement that goes with each term.
-Details the inflows and outflows of cash during a specified period of time.

• A)income statements
• B)notes
• C)balance sheet
• D)statement of cash flows
• E)statement of retained earnings (reconciliation of retained earnings)

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Definitions:

Account Group

An account group is a categorization of individual financial accounts in the general ledger that helps organize and report financial information.

Owner's Equity

The portion of a company’s assets that belongs to the owners after liabilities have been deducted.

Supplies

Items that are used in the daily operations of a business or organization, often consumed in the process.

Accounts Receivable

Receivables from customers for products or services rendered by a company, awaiting payment.