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Unformatted text preview: (d) The form of dating each financial statement is identical. (e) Many assets are reported at their historical cost. (f) Revenue should not be recognized before it is collected. (g) The term income is synonymous with the term revenue. (h) Dividends are reported as an expense on the income statement. (i) Retained earnings will equal cash on hand. (j) Issuing stock does not increase a company's revenue or income....
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.
- Spring '11