I believe the first question is referring to a balance worksheet and the accounting cycle? There are no additional items that come with these questions. I don't really understand it, either.

1. How many financial statements are prepared thus far from the worksheet Choose One 20 points O 3 O 4 O 5 O 8 2. What is the purpose of Income Statement Choose One 20 points O To show profit and loss O Net worth O A= LOE O Ending Capital 3. What is the proper sequence of the financial statements Choose One 20 points OStatement of Owner's Equity, Balance Sheet, Ending Trial Balance O Income Statement, Statement of Owner's Equity, Balance Sheet O Unadjusted Trial Balance, Adjustments, Adjusted Trial Balance O Income statement, balance sheet/equity, adjustments, unadjusted trial balance, adjusted trial balance 4. What is the purpose of the Owner's Equity Statement? Choose One 20 points O To determine profitability O To determine net income and net loss O Net worth O A L+OE 5. The classified balance sheet is a more detailed version of the original balance sheet Choose One 20 points O True O False 1. How many financial statements are prepared thus far from the worksheet Choose One 20 points O 3 O 4 O 5 O 8 2. What is the purpose of Income Statement Choose One 20 points O To show profit and loss O Net worth O A= LOE O Ending Capital 3. What is the proper sequence of the financial statements Choose One 20 points OStatement of Owner's Equity, Balance Sheet, Ending Trial Balance O Income Statement, Statement of Owner's Equity, Balance Sheet O Unadjusted Trial Balance, Adjustments, Adjusted Trial Balance O Income statement, balance sheet/equity, adjustments, unadjusted trial balance, adjusted trial balance 4. What is the purpose of the Owner's Equity Statement? Choose One 20 points O To determine profitability O To determine net income and net loss O Net worth O A L+OE 5. The classified balance sheet is a more detailed version of the original balance sheet Choose One 20 points O True O False