Chapter 15, Problem 5DQ

Summary Introduction

To determine: Whether the balance sheet, income statement and statement of cash flows contain all the information that are required as a potential lender or investor and the other information that are to be examined.

Introduction: A balance sheet is one of the three major financial statements and is important to both budgetary modeling and accounting. The balance sheet shows the organization's total assets, and the ways these assets are financed, through either debt or equity.