Question: 1. What does it mean to say that the income statement, statement of stockholders' equity, and statement of cash flows measure activity over an interval of time, but the balance sheet measures activity at a point in time?
2. Give some examples of the basic revenues and expenses for a company like The Walt Disney Company.
3. What is the accounting equation? Which financial statement reports the accounting equation?
4. Give some examples of the basic assets and liabilities of a company like Walmart Stores, Inc.