What is net income? Group of answer choices -part of asset -Calculate the asset and liabity -part of the financial statement which calculate equity -part of financial statements, which contains the results of its operations during an accounting period
What is net income? Group of answer choices -part of asset -Calculate the asset and liabity -part of the financial statement which calculate equity -part of financial statements, which contains the results of its operations during an accounting period
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter2: The Basics Of Record Keeping And Financial Statement Preparation: Balance Sheet
Section: Chapter Questions
Problem 8E
Related questions
Question
What is net income?
Group of answer choices
-part of asset
-Calculate the asset and liabity
-part of the financial statement which calculate equity
-part of financial statements, which contains the results of its operations during an accounting period.
Flag question: Question 32
What is discontinued operation?
Group of answer choices
-no longer operable and fall under asset
-result of the operation which has been disposed or classified by the entity as held for sale
-no longer consider part of balance sheet
-consider disposable and need to be calculate as part of retained earnings
Flag question: Question 33
Why is budget important?
Group of answer choices
-It gives stakeholder good information about financial statement;
-provide a good orderly management activities within an organization;
-it is important to create balance sheet;
-It is useful to manage liabilities.
Flag question: Question 34
What is a flex budget?
Group of answer choices
-It gives the comparison of different expenses;
-A table of answers and brief statistics regarding student answer choices. Answer Text Number of Respondents Percent of respondents selecting this answer Answer Distribution It gives the real time expense information, (Incorrect answer)It gives the real time expense information;
-it itemizes different expense levels depending upon changes in the actual revenue;
-It provides actual number.
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