Columns: Identify the matching terms in two columns.

Financial Statements for a Proprietorship Quiz

Financial statements are prepared at the end of each monthly period to help mangers and owners make good business decisions. An income statement reports financial information over a specific period of time, indicating the financial progress of a business in earning a net income or a net loss. And a balance sheet reports financial information on a specific date, indicating the financial condition of a business and its financial strength.
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