The financial statements are interrelated

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True/Make true questions in the “Financial Statements”

1. The financial statements printed by Peachtree reflect month-to-date amounts only.

2. The financial statements are interrelated.

3. The term standard refers to financial statements that are designed by the company.

4. Bellwether Garden Supply showed a net loss for the current month, March 31, 2012.

5. The statement of changes in financial position derives its information from the income statement.

Reference no: EM13793756

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