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On which financial statement(s) can you find total current liabilities? O Cash Flow Statement and Statement of Stockholders
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Answer #1

Question:1

The Answer is Balance Sheet

Explanation:

1) Only in balance sheet we can find the total balance of current liabilities.

2) Remaining options are incorrect because

a) Income statement displays only revenues and expenses. So, it is incorrect.

b) Stockholders equity displays only stockholders calculation. So, it is incorrect.

c) Statement of cash flow displays only cash related transactions of current liabilities but not total balance. So, it is incorrect.

Question:2

The Answer is Balance Sheet

Explanation:

1) Only in balance sheet we can find the total balance of account payable.

2) Remaining options are incorrect because

a) Income statement displays only revenues and expenses. So, it is incorrect.

b) Stockholders equity displays only stockholders calculation. So, it is incorrect.

c) Statement of cash flow displays only cash related transactions of accounts payable but not total balance. So, it is incorrect.

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