Balance Sheet--General Concepts
        1. What information does the balance sheet contain?
        2. Is the balance sheet for a period of time or a point in time?
        3. By what other titles is the balance sheet known?
        4. What is the purpose of preparing a classified balance sheet?
        5. What is the difference between the account format and the report format of the balance sheet?
        6. What are the typical asset classifications in the balance sheet?
        7. What two classifications of liabilities appear on the balance sheet?
        8. Explain the various types of owners' equity accounts found in the balance sheet.
        9. Explain the nature and purpose of appropriated retained earnings.
        10. What terminology is used by the IFRS for the balance sheet?
        11. How does the presentation of items in the balance sheet differ under IFRS's?

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