← Chapter 26 Test
3 Written Questions
3 Multiple Choice Questions
- A financial statement that shows changes in a corporation's ownership for a fiscal period.
- Total purchases less purchases discounts and purchases returns and allowances.
- Liabilities owed for more than a year.
2 True/False Questions
par value → Total sales less sales discounts and sales returns and allowances.
current ratio → A comparison between two numbers showing how many times one number exceeds the other.