Which of the following is a false statement regarding the reasons to keep organized financial records?
Organized financial records will help a business compete in the marketplace.
Organized financial records help businesses to take care of banking issues.
Organized financial records allow workers to receive a higher rate of pay.
Organized financial records help monitor performance.
In the accounting equation, liabilities and owners' equity is equal to a balance sheettransactionsassets
Question #3MultipleSelect Score:
A company might hire an accountant if it wants help with which of the following duties?
Keeping financial recordsManaging staff membersUnderstanding tax codesPreparing financial statements
Question #4MultipleChoice Score:
The main purpose of a balance sheet is to _____.
comply with IRS lawsobtain a bank loanshow a business's financial stateshow profits earned
Please ask one question at a time. Thanks.
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