| A | B |
|---|
| The balance sheet reports financial information _____. | on a specific date |
| The information needed to prepare the income statement comes from ___. | income section of the worksheet |
| _____ summarize the changes resulting from business transactions that have occurred during an accounting period. | financial statements |
| _____ the comparison of two items on a financial statement, resulting in a percentage that is used to evaluate the relationship between the two items. | ratio analysis |
| _____ is reported on the income statement. | net income or net loss |
| A(n) ____ is the financial statement that repots the final balances in all asset, liability, and owner's equity accounts at the end of the financial period. | balance sheet |
| In the ____, the classification of the balance sheet accounts are shown one under the other. | report form |
| One source of information for completing the balance sheet is the ____. | balance sheet section of the work sheet |
| The ____ is completed as a supporting document for the balance sheet. | statement of changes in owner's equity |
| The ______ reports a business' net income or loss over an entire accounting period. | income statement |
| _____ indicates what percentage of net sales represents profit. | return on sales |
