Section 1 Question 1 of 6. All of the following make the balance sheet reliable for would-be lende O The balance sheet accounts can be confirmed objectively using docume O The amount in the accounts provides a snapshot of the current balance O Because the balance is reflected, it reveals information about the perfor The balance sheet gets audited annually. Mark for follow up Because the balance is reflected, it reveals information about the performance of The balance sheet gets audited annually. O Mark for follow up Question 2 of 6. Which of the following statements best describes the relationship between the O The net income at the end of the year will become part of retained earnings. O The gross income at the end of the year will become part of retained earnings. O The net income at the end of the year will become part of the "owners contribution The net income at the end of the year will become part of the "loans from owner's O Mark for follow up