Question Details

The major financial statements include all of the following except



1.	The financial statements most frequently provided include all of the following except the
a.	statement of financial position.
b.	income statement.
c.	statement of cash flows.
d.	statement of retained earnings.

	2.	All the following are differences between financial and managerial accounting in how accounting information is used except to
a.	plan and control company's operations.
b.	decide whether to invest in the company.
c.	evaluate borrowing capacity to determine the extent of a loan to grant.
d.	All the above.

	3.	Which of the following represents a form of communication through financial reporting but not through financial statements?
a.	Statement of financial position.
b.	President's letter.
c.	Income statement.
d.	Notes to financial statements.

	P4.	The process of identifying, measuring, analyzing, and communicating financial information needed by management to plan, evaluate, and control an organization- operations is called
a.	financial accounting.
b.	managerial accounting.
c.	tax accounting.
d.	auditing.
 
	5.	The major financial statements include all of the following except:
a.	Statement of financial position.
b.	Statement of changes in financial position.
c.	Statement of comprehensive income.
d.	Statement of stockholders’ equity.



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