Exam (elaborations)
TEST BANK FOR FINANCIAL ACCOUNTING 16TH EDITION, CARL WARREN, CHRISTINE JONICK, JENNIFER SCHNEIDER
The excess of revenue over the expenses incurred in earning the revenue is called capital. a. True b. False ANSWER: False 44. There are four primary financial statements of a proprietorship: the income statement, the statement of owner's equity, the balance sheet, and the statement of cash flo...
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