journalizing
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question
4. If a shareholder wanted to know how money flowed into and out of the company, which financial statement would the shareholder use?
A. income statement
B. statement of cash flows
C. statement of retained earnings
D. balance sheet
5. The debit side of an account
A. is the left side of the account
B. can be either side of the account depending on how the accountant set up the system
C. is the right side of the account
D. depends on whether the account is an asset, liability, or stockholders' equity
6. The process of initially recording a business transaction is called
A. journalizing
B. correcting
C. balancing
D. posting
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