Find which statements is true about financial statements

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Question 1: Which of the following statements is true about financial statements?

Group of answer choices

Option 1: Assets reported on the balance sheet may or may not have a source.

Option 2: Income statement is prepared for a particular date.

Option 3: The total of assets is equal to the total of liabilities.

Option 4: There is no T-account for ending retained earnings balance.

Reference no: EM132587835

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