Chapter 2 5. Economic transactions between a company and other organizations are compiled and presented in: A. Managements discussion and analysis of the annual report B. Corporate Performance Statements C. Financial Statements D. Auditors Report 6. The four financial statements include: A. The Statement of Disclosure Notes B. The Investments Statement C. The Statement of Distributed Earnings D. The Income Statement 7. The four financial statements include: A. The Assets and Liabilities Statement B. The Statement of Changes in Stockholders' Equity C. The Statement of Common Stock D. The Taxation Statement 8. The accounting equation that best represents the relationship between the major categories presented in the balance sheet is: A. Assets = Liabilities + Equity B. Assets = Liabilities - Equity C. Assets = Equity - Liabilities D. Assets = Revenues - Expenses 9. Current assets include: A. Equipment B. Accounts Payable C. Sales Revenue D. Accounts Receivable 10. Amounts borrowed that will be repaid within one year (or the operating cycle if longer) are A. Current Assets B. Long Term Assets C. Current Liabilities D. Long Term Liabilities