B statement of retained earnings c statement of

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b. Statement of retained earnings. c. Statement of retained earnings and the balance sheet. d. Income statement. FeedbackThe correct answers are: Balance sheet., Statement of retained earnings and the balance sheet.
Question 8CorrectMark 10.00 out of 10.00
Flag questionQuestion textWhich of the following is not a correct form of the accounting equation?
Question 9CorrectMark 10.00 out of 10.00Flag questionQuestion textWhen the stockholders invest cash in the business, what is the effect?
Question 10CorrectMark 10.00 out of 10.00Flag questionQuestion textWhen services are performed on account, what is the accounting effect for the company that provides the services?
Question 11CorrectMark 6.00 out of 6.00Flag questionQuestion text(T / F) The matching principle is fundamental to the accrual basis of accounting.Select one:True False FeedbackCorrect. The accrual basis of accounting seeks to match effort and accomplishment by matching expenses against the revenues they created.The correct answer is 'True'.(T / F) When companies offer trade discounts, the gross selling price (gross invoice price) at
which the sale is recorded is equal to the list price minus any trade discounts.
Question 2CorrectMark 1.00 out of 1.00
Flag questionQuestion text(T / F) Sales discounts arise when the seller offers the buyer a cash discount of 1 percent to 3 percent to induce early payment of an amount due.
Question 3CorrectMark 1.00 out of 1.00Flag questionQuestion text(T / F) Cost of goods sold = Beginning inventory + Net cost of purchases − Ending inventory.
Question 4CorrectMark 1.00 out of 1.00Flag questionQuestion text(T / F) Beginning inventory + Net cost of purchases = Cost of goods available for sale.

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