A _________ is a summary level report used to convey the financial position and performance of an organization within a specific time period.
Financial Analysis Review

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11th Grade
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Hard
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1.
FLASHCARD QUESTION
Front
Back
Financial Statement
2.
FLASHCARD QUESTION
Front
The __________ is a financial statement that summarizes the total revenues and expenses of an organization, and the resulting profit or loss over a specific accounting period
Back
Income Statement
3.
FLASHCARD QUESTION
Front
What accounts are included in an income statement?
Back
Revenue & Expenses
4.
FLASHCARD QUESTION
Front
If revenues are greater than or equal to expenses, the income statement reports a _________.
Back
Net Income
5.
FLASHCARD QUESTION
Front
If revenues are less than expenses, the income statement reports a _________.
Back
Net Loss
6.
FLASHCARD QUESTION
Front
A(n) __________ is a financial statement that marks a company's financial situation at a moment in time.
Back
Balance Sheet
7.
FLASHCARD QUESTION
Front
What is the accounting equation?
Back
Assets = Liabilities + Owners’ Equity
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