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Statement that is used to compare bank's balance with the company's balance is:

A. Bank reconciliation
B. Statement of owner's equity
C. Income statement
D. Balance sheet

Information can be gained from sources such as Industry Norms and Key Business Ratios, Annual Statement Studies, Analyst's Handbook, and Industry Surveys:

- The general economic condition
- Elaborations of financial statement disclosures
- Relative position within the industry
- Forecasts of earnings

The correct sequence of the partnership liquidation process is:

A. Payment of liability - selling of non-cash assets - distribution of cash to partners
B. Payment of liability - distribution of cash to partners - selling of non-cash assets
C. Selling of non-cash assets - distribution of cash to partners - payment of liability
D. Selling of non-cash assets - payment of liability - distribution of cash to partners

Advantage of partnership over sole proprietorship does not include:

A. Minimize competition
B. Poor management skill
C. More capital
D. Sharing of risk

Which one of the following principles states that revenues earned during the period are matched with the expenses incurred during the period?

A. Measurement principle
B. Going concern
C. Matching principle
D. Revenue recognition

Sagot :

GinnyAnsweridn

Final answer:

Bank reconciliation compares bank and company balances, the balance sheet lists assets and liabilities, and the matching principle matches revenues with expenses.


Explanation:

Bank reconciliation statement is used to compare a bank's balance with a company's balance. It helps in ensuring that the financial records of the bank and the company align.

Balance sheet is a financial statement that lists a company's assets and liabilities. It provides a snapshot of what the company owns and owes at a specific point in time.

The matching principle states that revenues earned during a period should be matched with the expenses incurred during the same period, ensuring accurate financial reporting.


Learn more about Financial Statements here:

https://brainly.com/question/51289814


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