What are our 4 basic financial statements? Make sure each one is being correctly identified as a "flow"
statement or a "snapshot" statement. Reminder, "flow" statements span a time period while "snapshot"
statements are recorded as of a certain date?
Balance sheet (flow), income statement (flow), statement of retained earnings (flow), statement of cash flows
(flow)
Balance sheet (snap), income statement (flow), statement of retained earnings (flow), statement of cash flows
(flow)
Savings account (snap), checking account (snap), tax return (flow), home cash flows (flow)
Savings account (flow), checking account (flow), tax return (flow), home cash flows (flow)