会计英语的简述题

1. Which three statements are the main financial statements?
2. List the three types of ownership, and tell the difference.
3. If an adjusting entry for accrued revenues of $100 at year-end is omitted, what is this error’s on the year-end income statement and balance sheet?
4. Describe the differences between periodic inventory system and perpetual inventory system.
5. Describe the lower of cost or market basis.

1. Statement of Financial Position(Balance Sheet), Statement of Comprehensive Income(Income Statement), Cash Flow Statement
还要分别解释么？
In financial accounting, a balance sheet or statement of financial position is a summary of the financial balances of a sole proprietorship, a business partnership or a company. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.

a cash flow statement, also known as statement of cash flows or funds flow statement,[1] is a financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing, and financing activities.

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