Question
For each of the items listed below, indicate the financial statement (or statements) for which the information is true. Use I to indicate income statement,
For each of the items listed below, indicate the financial statement (or statements) for which the information is true. Use I to indicate income statement, B to indicate balance sheet, and SE to indicate statement of stockholders' equity. If the item below is not true for any of the three financial statements, indicate with an N.
1. The statement provides information about resources consumed during an accounting period.
2. The portion of profits that were distributed to owners of the firm is disclosed.
3. The current market value of the firm's resources is reported.
4. The statement is dated as of a specific point in time.
5. The amounts that are owed to other organizations or individuals are reported.
6. The total amount of capital that has been contributed to the organization is reported.
7. The amount of capital that has been contributed to the organization during the accounting period just ended is reported.
8. Information is reported regarding the rewards that have been earned from serving customers during the accounting period just ended.
9. The statement is not as of a specific date, but covers a period of time.
10. Reports information that has been developed on the accrual basis.
11. The statement contains information about the financial sacrifices that were made to acquire resources.
12. The statement contains information concerning contributed capital.
13. The statement contains information concerning the results of operating activities.
14. The amount of stock sold during the accounting period just ended is disclosed.
15. The information provided links two other statements.
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