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Which of financial statements does not cover period of time

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Reference no: EM132835575

Problem 1: Which of the financial statements does not cover a period of time?

a. Statement of cash flows

b. Balance sheet

c. Statement of retained earnings

d. Income statement

Problem 2: When a company has performed a service but has not yet received payment, it

a. debits revenue from services and credits accounts payable.

b. makes no entry until the cash is received.

c. debits accounts receivable and credits revenue from services.

d. debits revenue from services and credits accounts receivable.

Problem 3: Which of the following is the proper order to list current assets on the balance sheet?

a. Cash, inventory, accounts receivable, temporary investments

b. Cash, accounts receivable, inventory, prepaid expenses

c. Cash, accounts receivable, temporary investments, inventory

d. Cash, temporary investments, prepaid expenses, accounts receivable

Reference no: EM132835575

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