The balance sheet provides owners with an estimate of the firm's worth for a specific moment in time, while the income statement presents a "moving picture" of its profitability over a period of time

Congress passed the Securities Act of 1933 requiring companies to register securities and provide financial statements and other information to buyers before their sale.

a. true b. false

Which of the following is the best example of an equipment-based service?

A) a tutoring service B) an amusement park C) a religious service D) a dog-walking service E) a car dealership