Financial Statements

 

 

Instructions

Hover over the missing word with your mouse to show the correct fill in the blank answer.


1. The —————— reports activity over a period of time.

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income statement

2. The ———– reports activity on a specific point in time.

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balance sheet

3. Operating activities are reported on the ————– before financing activities.

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cash flow statement

4. The ———- shows the changes in equity during a period.

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statement of equity

5. Accounts payable is reported as a ———– on the balance sheet.

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current liability

6. All financial statements have ———— that display the company name, name of the report, and date of activity.

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headings

7. The statement of retained earnings displays ———— before additions and subtractions from retained earnings.

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Prior Period Adjustments

8. The ———- is the first financial statement prepared during the accounting cycle.

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income statement

9. The can be prepared in both ———– and report formats.

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account

10. The ———– summarizes investing activities during a period.

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statement of cash flows