ACC 290 Sample Final Exam

ACC 290 Sample Final Exam 1) Which financial statement is used to determine cash generated from operations? Answer: Statement of cash flows 2) In terms of sequence, in what order must the four basic financial statements be prepared? Answer: Income statement, capital statement, balance sheet, and statement of cash flows 3. In classifying transactions, which of the following is true in regard to assets? Answer: Normal balances and increases are debits 4. An increase in an expense account mu...