Which of the following statements about financial ratios is false? The relationships between total expenses and total sales and net income and, total sales is determined by the financial ratio analysis. Financial ratios allow a business to compare its percentages to comparable businesses. The financial ratio analysis appears on the balance sheet. The financial ratio analysis appears on the income statement. Including on financial statements all information necessary to understand a business financial condition is an application of what accounting concept? Adequate Disclosure Matching expenses with Revenues Accounting Period Cycle Business Entity A post-closing trial balance shows the net income for a fiscal period. the owner's drawing account balance. that debits equal credits after closing entries are posted. that assets equal liabilities After adjusting entries are posted, the supplies account balance will be equal to the value of supplies used during the fiscal period. the value of the supplies on hand at the end of the fiscal period. Zero. none of these. Income summary is an asset account. a liability account. a temporary capital account. a permanent account