(Solution) -ACC 225 Week 1 CheckPoint Financial Statements

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ACC 225 Week 1 CheckPoint Financial Statements

CheckPoint: Financial Statements
· Resource: Fundamental Accounting Principles, Ch. 1

· Consider that you have been asked to explain financial statements to someone who knows nothing about accounting.

· Review the information on financial statements in Ch. 1 of Fundamental Accounting Principles.

· Discuss, in 200-300 words, each of the four financial statements. Explain the different components of the statements as well as what the statements tell about a business.