Answer to Question #239840 in Management for Yaya

Question

IBM had a better statement of financial position, despite falling behind in sales. Which one of the following best describes the statement of financial position?

1

2

3

4

Can be described as the accrued power of disposal over the products and services used by the business to generate a monetary return.

Consists of primarily receipts resulting in the sale of the business’s products and/or services.

Reflects all of the possessions of the business as well as the nature and extent of the interests in these possessions.

Furnishes details about the manner in which the profit or loss for a particular period was arrived at and how it has been distributed.

Answer 1

1. Furnishes details about the manner in which the profit or loss for a particular period was arrived at and how it has been distributed.