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ACC 225 WEEK 1 CHECKPOINT FINANCIAL STATEMENTS
CheckPoint: Financial Statements
Resource: Fundamental Accounting Principles, Ch. 1
Due Date: Day 5 [post to the Individual forum]·
Consider that you have been asked to explain financial statements to someone whoknows nothing about accounting.
Review the information on financial statements in Ch. 1 of Fundamental AccountingPrinciples.
Discuss, in 200-300 words, each of the four financial statements. Explain the differentcomponents of the statements as well as what the statements tell about a business.