To provide information to investors and creditors.

To calculate taxes.

To manage cash flow.

To track expenses.

Balance Sheet, Income Statement, and Statement of Cash Flows

Balance Sheet, Income Statement, and Statement of Retained Earnings

Balance Sheet, Statement of Cash Flows, and Statement of Changes in Equity

Income Statement, Statement of Cash Flows, and Statement of Changes in Equity

Assets = Liabilities + Equity

Assets = Liabilities - Equity

Assets + Liabilities = Equity

Assets - Liabilities = Equity

Current Assets, Non-Current Assets, Fixed Assets, and Intangible Assets

Current Assets, Non-Current Assets, Tangible Assets, and Intangible Assets

Current Assets, Non-Current Assets, Physical Assets, and Intangible Assets

Current Assets, Non-Current Assets, Operating Assets, and Non-Operating Assets

Current Liabilities and Non-Current Liabilities

Short-Term Liabilities and Long-Term Liabilities

Operating Liabilities and Non-Operating Liabilities

Secured Liabilities and Unsecured Liabilities

The residual interest in the assets of a company after deducting its liabilities

The total amount of money invested in a company by its owners

The difference between a company's assets and its liabilities

The net income of a company over a period of time

To show the financial position of a company at a specific point in time

To show the changes in a company's equity over a period of time

To show the cash flows of a company over a period of time

To show the profitability of a company over a period of time

To show the financial position of a company at a specific point in time

To show the changes in a company's equity over a period of time

To show the profitability of a company over a period of time

To show the cash flows of a company over a period of time

An asset is a resource that is expected to provide future economic benefits, while an expense is a cost incurred in the process of generating revenue.

An asset is a tangible item that can be seen and touched, while an expense is an intangible item that cannot be seen or touched.

An asset is something that is owned by a company, while an expense is something that is owed by a company.

An asset is something that increases a company's equity, while an expense is something that decreases a company's equity.

A liability is an obligation that a company owes to another party, while equity is the residual interest in the assets of a company after deducting its liabilities.

A liability is a short-term obligation, while equity is a long-term obligation.

A liability is something that decreases a company's equity, while equity is something that increases a company's equity.

A liability is something that is owed by a company, while equity is something that is owned by a company.

To provide an opinion on the fairness of a company's financial statements.

To detect fraud and errors in a company's financial statements.

To ensure that a company is complying with all applicable laws and regulations.

All of the above.

Internal audits and external audits

Financial audits and operational audits

Compliance audits and performance audits

Public audits and private audits

Internal audits are conducted by a company's own employees, while external audits are conducted by independent auditors.

Internal audits are more comprehensive than external audits.

Internal audits are more focused on financial matters, while external audits are more focused on operational matters.

Internal audits are more expensive than external audits.

To set accounting standards for public companies in the United States.

To enforce accounting standards for public companies in the United States.

To provide guidance on accounting matters to public companies in the United States.

All of the above.