Question : 151. The basic financial statements include all of the following except: A. Balance : 1225116

151. The basic financial statements include all of the following except: 

A. Balance Sheet.

B. Income Statement.

C. Statement of Owner’s Equity.

D. Statement of Cash Flows.

E. Trial Balance.

152. The statement of owner’s equity: 

A. Reports how equity changes at a point in time.

B. Reports how equity changes over a period of time.

C. Reports on cash flows for operating, financing, and investing activities over a period of time.

D. Reports on cash flows for operating, financing, and investing activities at a point in time.

E. Reports on amounts for assets, liabilities, and equity at a point in time.

153. The financial statement that reports whether the business earned a profit and also lists the revenues and expenses is called: 

A. A Balance sheet.

B. A Statement of owner’s equity.

C. A Statement of cash flows.

D. An Income statement.

E. A Statement of financial position.

154. A balance sheet lists: 

A. The types and amounts of the revenues and expenses of a business.

B. Only the information about what happened to equity during a time period.

C. The types and amounts of assets, liabilities, and equity of a business as of a specific date.

D. The inflows and outflows of cash during the period.

E. The assets and liabilities of a company but not the owner’s equity.

155. A financial statement providing information that helps users understand a company’s financial status, and which lists the types and amounts of assets, liabilities, and equity as of a specific date, is called a(n): 

A. Balance sheet.

B. Income statement.

C. Statement of cash flows.

D. Statement of owner’s equity.

E. Financial Status Statement.

156. The financial statement that identifies where a company’s cash came from and where it went during the period is the: 

A. Statement of financial position.

B. Statement of cash flows.

C. Balance sheet.

D. Income statement.

E. Statement of changes in owner’s equity.

157. The financial statement that shows the beginning balance of owner’s equity; the changes in equity that resulted from new investments by the owner, net income (or net loss); withdrawals; and the ending balance, is the: 

A. Statement of financial position.

B. Statement of cash flows.

C. Balance sheet.

D. Income statement.

E. Statement of owner’s equity.

158. Cash investments by owners are listed on which of the following statements? 

A. Balance sheet.

B. Income statement.

C. Statement of owner’s equity only.

D. Statement of cash flows only.

E. Statement of owner’s equity and statement of cash flows.

159. Accounts payable appear on which of the following statements? 

A. Balance sheet.

B. Income statement.

C. Statement of owner’s equity.

D. Statement of cash flows.

E. Transaction statement.

160. The income statement reports all of the following except: 

A. Revenues earned by a business.

B. Expenses incurred by a business.

C. Assets owned by a business.

D. Net income or loss earned by a business.

E. The time period over which the earnings occurred.