A financial statement is a summary of all the financial transactions that have occurred over a particular period. Also financial statements indicate a firm's financial health and stability, and are key factors in management decision making. a. True
b. False

Amarket is said to be equilibrium when quantity demanded is equal to quantity supplied. critically analyse the above statement by giving different types of market

When an interest-bearing note comes due and is uncollectible, the journal entry includes debiting

Acorporation a. can use different depreciation methods for tax and financial reporting purposes b. must use the straight - line depreciation method for tax purposes and double declining depreciation method financial reporting purposes c. must use different depreciation method for tax purposes, but strictly mandated depreciation methods for financial reporting purposes d. can use straight- line depreciation method for tax purposes and macrs depreciation method financial reporting purposes