1. Introduction to Accounting

Which of the following is most associated with financial accounting reports?

Woods Construction has the following account balances at the end of the year: Cash \$12,000; Accounts Receivable \$8,000; Equipment \$25,000; Accounts Payable \$5,000; Common Stock \$30,000; Retained Earnings \$10,000. What is the total amount of assets reported on the company's balance sheet?

Which of the following financial statements are normally included in public reports?

On which of the four major financial statements would you find the amounts for common stock and paid-in surplus?

Which of the following lists the three primary financial statements prepared by accountants?

The budgeted income statement is part of which element of the master budget?

Which of the following statements is NOT correct about the financial statements?

Which of the following statements about the general ledger is true?

Which of the following items appear on the statement of stockholders' equity?

Which of the following statements is correct regarding the components of the master budget?

Which of the following is true regarding financial statements?

In financial accounting, the primary purpose of the income statement is to show the:

Operating, investing, and financing activities are reported on which financial statement?

In financial accounting, what is another common name for the income statement?

Which of the following best defines an income statement?