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Sindrei [870]
1 year ago
9

Explain why the income statement and the statement of cash flows are dated "For the Year Ended December 31, " whereas the balanc

e sheet is dated "At December 31."
Business
1 answer:
Dvinal [7]1 year ago
3 0

The income statement and the statement of cash flows are dated “For the Year Ended December 31” because they account for the inflow and outflow of resources during the entire year. Whereas the balance sheet is dated “At December 31” because it provides information on the assets, liabilities, and stakeholders’ equity at a specific date.

The income statement of a firm provides information of the firm’s revenues, expenses, profits or losses, over a period of time. A cash flow statement refers to the financial statement that records all the inflows and outflows of cash of a company from its business operations and investments.

The balance sheet, however, records financial information of a specific time, and this information includes the assets, liabilities, and shareholder’s equity.

To learn more about income statements and balance sheets : brainly.com/question/13463210

#SPJ4

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Diamond Design Company makes custom chairs for individual customers. On September 1, there was one job in process, Job 243, with
Romashka [77]

Answer:

Net operating income= $3,152

Explanation:

Giving the following information:

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3 0
3 years ago
How can a company´s salespeople help with product development?
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True or False: Potential customers and non-potential customers are mixed together in the marketplace, so it is impossible to ens
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The marketplace is full of both potential and non-potential customers which makes this statement <u>True</u>.

<h3>Are both potential and non-potential customers in the market?</h3>

The market does indeed have both potential customers for a product and non-potential customers who would not want to buy the product.

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Find out more on potential customers at brainly.com/question/3053467.

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