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1. what is the purpose of the following financial statements:
The income statement, Balance sheet, Cash Flow Statement and the Statement of Change in
Equity.
2. What is the accounting equation?
3. What is a liability?
4. How is a liability increased?
5. How is a liability decreased?
6. A liability usually carries what kind of a balance?

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1. what is the purpose of the following financial statementsThe .pdf

  • 1. 1. what is the purpose of the following financial statements: The income statement, Balance sheet, Cash Flow Statement and the Statement of Change in Equity. 2. What is the accounting equation? 3. What is a liability? 4. How is a liability increased? 5. How is a liability decreased? 6. A liability usually carries what kind of a balance?