38511881
Description
Flashcards by BRYAN VEGA, updated more than 1 year ago
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Created by BRYAN VEGA
over 1 year ago
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| Question | Answer |
| Financial Statements | they are reports used by investors, owners, and creditors to make decisions |
| Profits and loss | list income and expenses, summarizing the income a company has earned and the expenses incurred to earn the income |
| Balance sheet | list assets, and owner's equity, summarizing what a company owns and owes on a particular date |
| Statement of cash flows | list cash flows from operating, investing, and financing activities of a business |
| Management reports | are used by internal users (managers) to make decisions regarding company operations |
| Tax forms | provides information to federal and state tax authorities |
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