Chapter 01 - 009 Flashcards
0
Q
Accounting equation
P19
A
- also called …
- is the basis …
- assets = …
1
Q
How does financial statements report financing, investing, and operating activities?
P19
A
Z
2
Q
Assets
P19
A
- the resources …
2. investments that …
3
Q
Liabilities
A
- Identifies …
- Funding from …
- To engage …
4
Q
Equity
P19
A
Z
5
Q
Another way to describe the accounting equation
P20
A
Z
6
Q
Current assets
A
Z
7
Q
Current liabilities
A
Z
8
Q
Working capital
A
Z
9
Q
Total investing =
A
Z
10
Q
Why are the operating activities not reflected in the accounting equation?
A
Z
