Dividends declared are found on the income statement .

Current assets as reported on the Balance Sheet include goodwill.

The Owner's Equity (Capital) Statement is used as an aid for preparing the Balance Sheet.

The net loss for a company is reported on the Income Statement.

The ending balance of Cash is reported on the Balance Sheet and Statement of Cash Flows.

A company's main source of cash should be sales.

Intangible assets are long-term assets with no physical form

Long-term assets include supplies.

Income taxes payable are tax debts owed to suppliers.

Short-term investments include stocks and bonds of other companies.

Equipment would appear on the income statement with the revenues.

A company's balance sheet covers a period of time.

Accumulated depreciation is normally associated with property, plant and equipment.

Current assets listed in the order of liquidity are cash and cash equivalents, short-term investments, accounts receivable, and inventory.

The Board of Directors of the corporation determines if a dividend will be paid.

The income statement covers a specified period of time.

The portion of net income that the company has accumulated over a period of years and not paid out for dividends is called retained earnings.

Cash dividends declared decrease revenue on the income statement.

The CORRECT data flow from one financial statement to the next is income statement, statement of owner's equity, balance sheet, statement of cash flows.

A company's interest expense for a period is reported on the Balance Sheet.

The statement of owner's equity reports cash payments and cash receipts over a period of time.

Cost of goods sold is classified as revenue on the income statement.

An accounts payable is a liability for goods or services purchased on credit and supported by the credit standing of the purchaser.

The income statement is also called the statement of financial position.

Net income is computed as revenues + expenses.