Reference no: EM132944185
Question 1: What are the the main classifications/types of accounts?
Option 1: Income statement accounts
Option 2: Balance sheet accounts
Option 3: Revenues and expenses
Option 4: Assets, liabilities, equity, revenues, expenses
Question 2: Which of the following is a proper listing of the four general-purpose financial statements?
Option 1: Profit Statement, Pro Forma Balance Sheet, Direct Cost Statement, Summary of Capital Stock
Option 2: Statement of Financial Position, Profit & Loss Statement, Statement of Retained Earnings, Ending Bank Statement
Option 3: Balance Sheet, Income Statement, Statement of Owners' Equity, Statement of Cash Flows
Option 4: Balance Sheet, Income Summary, Cash Budget, Statement of Retained Earnings