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4. Liabilities represent an "inside" interest in a business. (Points : 3) True False
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Asked 11/1/2013 8:07:27 PM
Updated 5/14/2014 12:56:44 AM
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User: 3. The purpose of accounting is to provide financial information about a business to individuals and organizations. (Points : 3) True False

User: 4. Liabilities represent an "inside" interest in a business. (Points : 3) True False

Weegy: True, Liabilities represent an inside interest
Expert answered|Onlineexpert|Points 256|

User: The financial statement that shows the state of the firm's assets, liabilities, and owner's equity on a specific date is called a(n) (Points : 3) balance sheet. statement of operations. statement of owner's equity. income statement.

Question
Asked 11/1/2013 8:07:27 PM
Updated 5/14/2014 12:56:44 AM
2 Answers/Comments
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3. The purpose of accounting is to provide financial information about a business to individuals and organizations. This statement is TRUE.
Added 5/14/2014 12:40:45 AM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [5/14/2014 12:55:56 AM], Rated good by jeifunk, Rated good by niKlaus
3
The financial statement that shows the state of the firm's assets, liabilities, and owner's equity on a specific date is called a BALANCE SHEET.
Added 5/14/2014 12:56:44 AM
This answer has been confirmed as correct and helpful.
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