1. The rule for the balance sheet is:
Assets = Liabilities + Owner's Equity
Assets - Liabilities = Owner's Equity
Liabilities = Assets - Owner's Equity
All of these
The statement of cash flow:
compares costs and expenses against a firm's sales.
is built on the basic accounting equation: Assets = Liabilities + Capital.
shows what assets the business owns and what claims creditors and owners have against those assets.
shows changes in working capital by listing sources and uses of funds.