financial statements q&a. name a type of financial statement?
TRANSCRIPT
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Financial Statements Q&A
![Page 2: Financial Statements Q&A. Name a type of Financial Statement?](https://reader035.vdocuments.us/reader035/viewer/2022072014/56649e7d5503460f94b8017a/html5/thumbnails/2.jpg)
•Name a type of Financial Statement?
![Page 3: Financial Statements Q&A. Name a type of Financial Statement?](https://reader035.vdocuments.us/reader035/viewer/2022072014/56649e7d5503460f94b8017a/html5/thumbnails/3.jpg)
• If you owned your own business, what would financial statements tell you & how could they help you?
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Income Statement
•What is another name for an income statement?•What does an income statement tell
you?•What types of information are on an
income statement?•How will you know if a business is
profitable over a period of time?
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Balance Sheet
•What is a balance sheet?•What does a balance sheet tell you?•What types of information are on a balance sheet?
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Cash Flow
•What is a cash flow statement?•What does a cash flow statement tell you?•What types of information are on a cash flow statement?•You can’t pay your expenses with sales. You can only pay them with cash.6
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•What is the accounting equation?
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• If you ran your own business and had sales of $37,000 last year – is that good?