Which one of the following elements of financial statement helps in understanding the financial performance of the business? Expense, Asset and Income Incomes and expenses Liability, Income and Equity Asset, Equity and Liability

Q: define financial accounting and explain its role in business

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Which of the following accounting concepts considers the investment made by the owner in the…

A: Accounting Principles are the rules and guidelines to be followed by a business while preparing and…

Q: ow is accounting information used in busi

A: Accounting is the combination of various steps like recording, analyzing, summarizing, and…

Q: Accumulated other comprehensive income (AOCI) appears as a subsection of shareholders' equity on the…

A: The question is based on the concept of business accounting

Q: How to analyse the accounting measurement and financial measurement? Give examples

A: Accounting Measurements: Accouunting measurement is the computatiion of economic or financial…

Q: The business document that reports assets, liabilities and stockholders’ equity is knows as:

A: Answer:   Balance sheet.

Q: What is the income-statement method of accounting

A: An income-statement method is an accounting system wherein the allowance for uncertainty in accounts…

Q: Analyze routine economic events—transactions—and record their effects on acompany’s financial…

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: Which financial ratio under the categories of profitability, asset utilization, liquidity, and debt…

A: Financial ratio can be defined as the accounting ratio which helps the business in evaluating the…

Q: What is the purpose of financial accounting? List at least three and explain why they are…

A: Introduction: Accounting is concerned mainly with recognizing, documenting, measuring, and…

Q: Prepare the companies financial statements including income statement, equity statement, balance…

A: Financial Statements: Financial Statements are the summary Reports that shows the financial results…

Q: Which of the following is a proper listing of the four general-purpose financial statements?…

A: Introduction:- The main aim of General purpose financial statements gives an idea of overall…

Q: Write a study about the Accounting Cycle of Reporting Financial Results

A: Accounting Cycle is the Process of recording the transaction and their processing in the Financial…

Q: What is the importance of financial statements in business? Mention what each financial statement…

A: Financial statements are imperative since they contain imperative data around the monetary wellbeing…

Q: According to which concept the owners are considered to be different from the business [A] Business…

A: Accounting concepts are the rules or assumptions that must be followed whil preparation of financial…

Q: The resources owned by a business are called:A. assets.B. liabilities.C. the accounting equation.D.…

A: To run a business many type of resources are needed. These can be in form of cash or in form of…

Q: these include debts, obligations to pay, and claims of the creditors on the assets of the business.…

A: The financial statements of the business includes the income statement and balance sheet. The…

Q: Define Accounting and its importance in the field of business.Define owner’s equity and how it is…

A: Accounting is a system that identifies ,records and communicates relevant information that is…

Q: Steps and illustration on how to come up with a income statement account and statement of financial…

A: Income statement is the statement in which net income for the firm is ascertained by deducting the…

Q: how does business owners can use the statement of profit and loss or income statement and balance…

A: The business needs a variety of financial statements to function in the business society. The…

Q: What does an Income statement tell about a business?

A: An entity requires details about its operations such as profits, financial position and cash flows…

Q: Which of the following statements best defines equity (capital) of a business? A Equity represents…

A: The accounting equation states that assets equals to sum of liabilities and shareholders equity.

Q: What is a mathematical equation in accounting? Which financial statement contains information on the…

A: This question tells about mathematical equation in accounting and  financial statement contains…

Q: What item of financial or operating data appears on both the income statement and the statement of…

A: The Income statement of a given period, state all the revenues earned and expenditure incurred…

Q: Assets, liabilities, and stockholders' equity are all found within which of the following financial…

A: Assets are the physical or non-physical resources which are own by the entities to generate the cash…

Q: what are the accounting concepts? define in detail every one of them in financial accounting.

A: Accounting Concepts May be considered as postulates i.e., basic assumptions or conditions upon which…

Q: What are the types of Balance Sheet analysis and how can it help a business.

A: Balance sheet: The balance sheet depicts a company's financial position by recording all of its…

Q: e business activities

A: The financial statement is the major in accounting.

Q: One among the following are economic activities or events in the business that can be measured in…

A: The business report shows the information of the different activities. and financial information of…

Q: What information is made available about the business in the following financial statements: a.…

A: Financial statements are a set of summaries of an organization's financial results, financial…

Q: Describe the difference between the accounting function and the finance function? What purpose do…

A: The key difference between accounting and finance is that accounting mainly focuses on the…

Q: How are financial statements used by business?

A: Answer: Introduction: Financial statements are nothing but detailed reports of a company, individual…

Q: Using the following categories, discuss the differences that exist between accounting for these…

A: Accounting is the process of defining, assessing, and reporting transactions to oversight…

Q: Financial statements should reflect a true and fair view of the business. Explain in your own words…

A: Financial statements are the reports those are prepared by an organization to estimate the…

Q: Show how the below transactions affect the financial position of the business as represented by A =…

A: As per accounting equation of the business, total assets must be equal to total liabilities and…

Q: Which financial statement shows the financial position of the company?A. balance sheetB. statement…

A: The information contained in a company's financial statements serves as the basis for corporate…

Q: What information is made available about the business in the following financial statements: a.…

A: A compilation of summaries of a company's monetary results, financial position, and cash flows is…

Q: What is the accounting equation? Which financial statement reports the accounting equation?

A: The accounting equation is the formula used to capture the effect of the relationship of financial…

Q: what is the different information on the financial statement that will help you understand the…

A: In order to determine the financial position of the company, a financial statement is essential. It…

Q: As per the accounting equation, equity can be represented as __________________. Excess of assets…

A: Accounting is the detailed process of book keeping. Under the first step of accounting, all…