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capitulo 7 - True 6 The financial statements printed by...

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Silvia Y. Rivera Rodriguez Capitulo 7 1. Peachtree automatically calculates financial statement once journal entries have been journalized and posted. True. 2. In Chapter 7, you printed three financial statements. In Chapter 7, you printed six financial statements. 3. The statement of cash flow is roughly the same thing as a balance sheet. The statement of cash flow is roughly the same as income from operation. 4. The balance sheet lists the revenues and expenses of the business. The balance sheet lists the Assets, liabilities and capital of the business. 5. The income statement is a summary of the revenue and expenses of a company for a period of time, such as an accounting period or a year.
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Unformatted text preview: True. 6. The financial statements printed by Peachtree reflect month-to-date amounts only. True. 7. The financial statements are interrelated. The financial statement work together. Silvia Y. Rivera 8. The term standard refers to financial statements that are designed by company. Standard refers to statements that PCA has ready to setup. 9. Bellwether Garden Supply showed a net loss for the current month, March 31, 2010. True. 10. The statement of changes in financial position derives its information from the income statement. The statement of changes in financial position derives its information from the statement of cash flow....
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