Question
Match the name of the financial statement on the right with its description on the left (Income statement, Statement of cash flows, Statement of stockholder
Match the name of the financial statement on the right with its description on the left (Income statement, Statement of cash flows, Statement of stockholder equity, or Balance sheet)
-Summarizes a companys assets, liabilities, and stockholders equity at a specific point in time
-Accounts for all revenues and expenses over an accounting period
-Reconciles (1) the amount of stockholders equity recorded at the beginning of the reporting period, (2) changes during that period, and (3) the amount of stockholders equity at the end of the reporting period
-Is also known as a profit and loss statement
-Provides a snapshot of how much the company owns and how much it owes on a given date
-Provides details about the flow of funds from operating, investing, and financing activities
-Provides information on earnings before interest, taxes, and depreciation and amortization, which is often used by analysts to determine the financial strength of the firm
-Can be used to determine whether the firm generates enough internal funds to support anticipated investment or whether additional outside capital needs to be raised
-Can be used to determine whether the firm can meet all its short-term obligations using its more liquid assets
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