Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 1 - Introduction to Financial Statements - Brief Exercises: BE1-7

Answer

a) IS b) BS c) SCF d) BS

Work Step by Step

a) Revenue is an item on the income statement. b) Supplies on hand are an asset and are shown on the balance sheet. c) Cash receipts are shown on the statement of cash flow. d) Debts outstanding are a type of liability and are shown on the balance sheet.
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