Match each of the following characteristics with the financial statement that best describes it. Each may be used more than once.
-The connecting link between the income statement and balance sheet
A)Income statement
B)Balance sheet
C)Statement of owner's equity
D)Statement of cash flows

Question

Quizplus · Accepted Answer

The Statement of Owner's Equity connects the income statement and balance sheet by showing how the period's profits or losses, alongside any owner withdrawals or additional investments, affect the overall equity of the business.

Match Each of the Following Characteristics with the Financial Statement