Discuss if the following statements are true or false a The terms 'accounts receivable ' and 'debtors ' mean the same thing b The balance sheet is a financial statement that shows the results of an entity 's trading over a reporting period c Ms Entrep invests her own cash to start a business This t...

a TRUE these terms are used interchangeably to describe entitiespeople who owe money to an entity If ...

Discuss if the following statements are true or false. a. The terms 'accounts receivable' and 'debtors' mean

Question:

Discuss if the following statements are true or false.
a. The terms 'accounts receivable' and 'debtors' mean the same thing.
b. The is a financial statement that shows the results of an entity's trading over a reporting period.
c. Ms Entrep invests her own cash to start a business. This transaction will increase the equity and assets of the business.
d. Reserve accounts are all created in the same way and involve cash being put aside from profits.
e. All assets on the are measured at fair value.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...