Correct question text the ending balance in retained

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Question 7CorrectQuestion textThe ending balance in retained earnings is shown in the:Select one:a. Balance sheet. 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 8CorrectQuestion textWhich of the following is not a correct form of the accounting equation?
Question 9Question textWhen the stockholders invest cash in the business, what is the effect?
Question 10Question textWhen services are performed on account, what is the accounting effect for the company that provides the services?
Question 11Question 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 2Question 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.

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