To what do the terms "liability and "stockholders equity refer? 15. What information is provided in the statement of cash flows? 16. What are notes to the financial statements? Illustrate how the double-entry accounting system works. 18. Why are financial statements prepared at regular intervals? Who are the users of these statements? 19. What is the basic accounting equation? How does it work? 20. Explain what is meant by the term "financial transaction". Give an example of a financial transaction. 21. Explain what is meant by Sustainable Business and how it relates to the going concern concept. expenses equals