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Which would be included on an income statement

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Reference no: EM132999197

Problem 1. Which of the following would be included on an income statement?

a. Cash

b. Accounts receivable

c. Land

d. Cost of goods sold

Problem 2. Which of the following is considered a liability?

a. Equipment

b. Retained earnings

c. Interest payable

d. Capital stock

Problem 3. Which of the following would be classified as a current liability?

a. Accounts payable

b. Inventory

c. Bank loan due in 24 months

d. Prepaid rent

Reference no: EM132999197

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