9) The balance sheet, or statement of financial position, is like a snapshot of the entity. Which of the following items are included on the balance sheet?
A) Revenues
B) Expenses
C) Assets
D) Dividends paid
10) Each financial statement includes a heading giving three pieces of data. Which of the following items is NOT included in these headings?
A) Name of the financial statement
B) Date or time period covered
C) Name of the preparer of the statement
D) Name of the business
11) Which of the following financial statements reports expenses in decreasing order of their amount, with the largest expense first?
A) Statement of cash flows
B) Income statement
C) Statement of retained earnings
D) Balance sheet
12) Which of the following financial statements uses net income or net loss taken directly from the income statement?
A) Statement of retained earnings
B) Statement of cash flow
C) Balance sheet
D) Statement of dividends paid
13) Which of the following financial statements reports that total assets equals total liabilities plus total stockholders' equity?
A) Statement of retained earnings
B) Statement of cash flows
C) Income statement.
D) Balance sheet
14) Which of the following financial statements reports cash receipts and cash payments during a period of time?
A) Statement of cash flows
B) Balance sheet
C) Income statement
D) Statement of retained earnings
15) Which of the following financial statements reports an increase or decrease in net cash during the time period covered?
A) Income statement
B) Statement of retained earnings
C) Statement of cash flows
D) Balance sheet
16) The financial statements should be prepared in what order?
A) Income statement, statement of retained earnings, balance sheet, statement of cash flows
B) Statement of retained earnings, balance sheet, income statement, statement of cash flows
C) Balance sheet, statement of retained earnings, income statement, statement of cash flows
D) Balance sheet, income statement, statement of retained earnings, statement of cash flows
17) Which of the following amounts appear on both the income statement and the statement of retained earnings?
A) Ending retained earnings
B) Total revenues
C) Net income
D) Dividends paid
18) Which of the following amounts appears on both the statement of retained earnings and the balance sheet?
A) Ending retained earnings
B) Total assets
C) Total revenues
D) Net income