Which of the Following Statements About the Balance Sheet Is

question 116

Multiple Choice

Which of the following statements about the balance sheet is FALSE?

• A)The balance sheet reports financial position.
• B)The balance sheets from two periods show whether cash increased or decreased.
• C)The balance sheet explains why cash increased or decreased from the prior period.
• D)The balance sheet is a basic financial statement required for publicly-held companies.

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Definitions:

Addition

Addition is the mathematical process of combining two or more quantities to find their total or sum.

Division

The arithmetic operation of dividing one quantity by another, resulting in a quotient and sometimes a remainder.

Multiplication

An arithmetic process that involves multiplying two numbers to achieve their resultant multiplication.

Evaluate

To determine or calculate the value of something.