which accounts are created according to the financial statements mean
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The list of each account a company owns is typically shown in the order the accounts appear in its financial statements. That means that balance sheet accounts, assets, liabilities, and shareholders' equity are listed first, followed by accounts in the income statement — revenues and expenses.
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Financial statements are written records that convey the business activities and the financial performance of a company. The balance sheet provides an overview of assets, liabilities, and stockholders' equity as a snapshot in time.
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