Business High School
Answers
Answer 1
The horizontal statements model is one of the most often used accounting models. The goal is to represent accounting data for a specified period in a concise and simple way. This statement is divided into three sections: the top section contains the income statement, which displays the results of the firm's operations; the middle section shows the changes in equity, reflecting the business's financing and investing operations; and the bottom section shows the cash flow statement, which reveals the firm's cash inflows and outflows.
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