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Worksheets12.2 Financial Records
Total questions: 11
Worksheet time: 6mins
Financial statements are used to record and analyze the financial performance of a business.
True
False
name the buildings, and equipment owned by the business, their original and current value, and the amount owed if money was borrowed to purchase the assets.
Asset Records
Depreciation Records
Inventory Records
Cash Records
______identify the amount assets have decreased in value due to their age and use.
Asset Records
Depreciation Records
Inventory Records
Cash Records
______identify the type and number of products on hand for sale. Adequate records are crucial to correctly determine the number of products sold, damaged, or lost and the current value of that inventory.
Asset Records
Depreciation Records
Inventory Records
Cash Records
______identify all purchases and sales made using credit.
Payroll Records
Cash Records
Tax Records
Records of accounts
______list all cash received and spent by the business.
Payroll Records
Cash Records
Tax Records
Records of accounts
______identifies the companies from which credit purchases were made and the amount purchased, paid, and owed.
Payroll Records
Accounts Payable Records
Tax Records
Records of accounts
______identifies customers that made purchases using credit and the status of each account
Payroll Records
Accounts Payable Records
Accounts Receivables Records
Records of accounts
______contain information on all employees of the company, their compensation, and benefits.
Payroll Records
Accounts Payable Records
Accounts Receivables Records
Records of accounts
______show all taxes collected, owed and paid.
Cash Records
Accounts Payable Records
Tax Records
Asset records
______show all taxes collected, owed and paid.
Cash Records
Accounts Payable Records
Tax Records
Asset records
