Accounting

I. The basic accounting (balance sheet I equation can be expressed as follows: a. Assets + Liabilities = Shareholders' Equity b. Assets = Liabilities +Shareholders' Equity c. Assets + Revenues = Expenses d. Assets - Expenses = liabilities + Revenues 2. Name three required financial statements found in an Annual Report?\ Financial accounting is the accounting sub-discipline that attempts to satisfy the monetary- informational needs of people within the organization. TRUE or FALSE 4. Two primary principles govern accrual accounting. They are: a. Periodicity and Economic Entity b. Revenue Recognition and Matching c. Stable Dollar and Monetary Unit d. Going Concern and Consolidation