Trading on the NYSE is executed without a specialist (i.e. a market maker). True

or False?

Ans: False

Stocks and Bonds are two types of financial instruments. True or False?

Ans: True

When revenue is matched with cost of sales in an Income statement it is called?

Ans: Matching principle

Basic balance sheet equation is what?

Ans: Equity = Assets - Liabilities

Why is the balance sheet known as the permanent statement?

How do you calculate the change in retained earnings?

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