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Click to watch the Tell Me More Learning Objective 5 video and then answer the...

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Accounting

Click to watch the Tell Me More Learning Objective 5 video and then answer the questions below.
The financial statement that reports revenues and expenses for a period of time is called
a. income statement
b. statement of owner's equity
c. balance sheet
d. statement of cash flows
The financial statement that summarizes the changes in the owner's equity that have occurred during a specific period of time, such as a
month or a year is called
a. income statement
b. statement of owner's equity
c. balance sheet
d. statement of cash flows
The financial statement that lists assets, liabilities, and owner's equity as of a specific date, usually at the close of the last day of a month
or a year, is called
a. income statement
b. statement of owner's equity
c. balance sheet
d. statement of cash flows
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