1. Clearly distinguish between cash flows and accruals/deferrals 2. Define retained earnings and explain specifically how...

1. Clearly distinguish between cash flows and accruals/deferrals

2. Define retained earnings and explain specifically how it differs from cash, revenues, and net income

3. list three ways to achieve “matching.”

4. Explain what “closing the books” means; what are you closing and more importantly - why?

5. Explain the time period assumption using the adjusting and closing process as the basis for your explanation.

6. Explain what the statement of cash flows tells you that the income statement does not

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ekkarill92 answered 1 year ago

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