15. What relation has a manufacturing statement to a profit and loss statement?
Chapter IV
1. Discuss the growing importance of the balance sheet in its relations to the business world.
2. What relation is there between the trial balance and the balance sheet? Between the post-closing trial balance and the balance sheet?
3. What is the purpose of the balance sheet? What uses may it serve?
4. Differentiate between the English and the American or Continental form of balance sheet.
5. How is the origin of the English form of balance sheet explained?
6. What is the “Statement of Receipts and Expenditures on Capital Account?”
7. Name and criticize a few of the balance sheet titles met with.
8. What is the purpose in classifying the items appearing in the different sections of a balance sheet?