Answer and Explanation:
a Income statement = Reports revenues and expenses
The income statement only records the revenues earned and expenses incurred
b Balance sheet = Reports Assets, liabilities and Equities
The balance sheet records the 3 items i.e assets, liabilities and stockholder equity
With the help of the accounting equation, the balance sheet should be matched
c Statement of Cash flows = Includes operating, Investing & Financing
The cash flow statement consist of operating activities, investing activities, and financing activities. It records only cash payments and cash receipts transactions
d AR Aging Report= Reflects unpaid invoices for current period
It shows the invoices which are not paid
e AP Aging Report = Reflect unpaid bills for current period
It shows the bills which are not paid
f Inventory valuation report = Reports Inventory Quantities on hand
It shows the quantities of inventory remains on till date
g Profit and loss report = Another name for Income statement
The other name of income statement is profit and loss account or report
h To view a transaction report = Click an account on any report
For seeing the transaction report we have to just click on any report
i To view a source document = Click on an event in any transaction report
For seeing the source document we have to just click on the event of any transaction report
j % of income check box = Click to add a new column in a report
For percentage of income check box we need to add a new column in a report
