For multiple-choice and true/false questions, simply press or click on what you think is the correct answer. For fill-in-the-blank questions, press or click on the blank space provided.
If you have difficulty answering the following questions, learn more about this topic by reading our Financial Statements (Explanation).
Accrual method
Cash method
Adjusting
Closing
Reversing
American Accounting Association (AAA)
Financial Accounting Standards Board (FASB)
Internal Revenue Service (IRS)
Balance sheet
Income statement
Statement of cash flows
Statement of comprehensive income
Statement of stockholders’ equity
Period of time
Point in time
Accumulated other comprehensive income
Paid-in capital
Retained earnings
Balance sheet
Income statement
Statement of cash flows
Statement of comprehensive income
Statement of stockholders’ equity
True
False
True
False
extraordinary items
gains and losses
net income
Statement of cash flows
Statement of comprehensive income
Statement of income
Balance sheet at its present value
Statement of comprehensive income with no value
Not reported on a financial statement
Total assets and total liabilities
Total assets and current liabilities
Current assets and current liabilities
Balance sheet
Income statement
Statement of cash flows
Statement of comprehensive income
Statement of stockholders' equity
Cash provided/used in financing activities
Cash provided/used in investing activities
Cash provided/used in operating activities
Supplemental information
A decrease in inventory
An increase in accounts payable
An increase in accounts receivable
Depreciation expense
An increase in accounts receivable
An increase in inventory
A decrease in accounts payable
Depreciation expense
Accumulated other comprehensive income
Commitments and contingencies
Significant accounting policies
Form 1040
Form 10-K
Form 10-Q
Schedule C
General ledger accounts
Income statement
Notes to the financial statements
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