Week 1 Review Clifton Riggins, Terri Clark, Tiffany Moore ACC/290 Principals of Accounting I Dena Breece There are four basic financial statements; Income statement, retained earning statement, balance sheet, and a statement of cash flow. An income statement is a statement that shows how your business is doing during a certain period of time. For instance in the month of February if your company had a gain of 2% it would be shown of the income statement, likewise if the companies’ profits…
Words 561 - Pages 3