Post Utme Wellspring University 2017 Accounting Question 5

Practice objective / multiple choice question 5 from the 2017 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2017 Accounting Objective / Multiple Choice
Question 5 POST_UTME_WELLSPRING_UNIVERSITY • 2017 • ACCOUNTING • objective

A company prepares a balance sheet as part of its accounting process. Which of the following is a characteristic of a balance sheet?

Answer Options

Correct Answer A. It is a list of all assets, liabilities, and equity of the company
B. It is a list of all assets and liabilities of the company, and is used to prepare the income statement
C. It is a list of all assets and equity of the company, and is used to prepare the cash flow statement
D. It is a list of all liabilities and equity of the company, and is used to prepare the budget
Correct Answer
A
Correct Option:
It is a list of all assets, liabilities, and equity of the company

About This Question

This is Post Utme Wellspring University 2017 Accounting Question 5. It is one of the objective questions from the 2017 Post Utme Wellspring University Accounting examination.

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