7. Which of the following is a current asset? A. Insurance paid in advance Accrued salary B. C. Prepaid commission revenue Accrued Interest expenses D.

Amount of money borrowed or invested on the origin date.

is prepaid reant an expense

Interest earned on only the original principal amount invested is:                Select one: a. Beginning interest b. Accumulated interest c. Simple interest d. Present value interest

B4.

Which item below is not a current liability? Select one: O O a. Unearned revenue b. Trade accounts payable c. cash dividends d. The currently maturing portion of long-term debt

The monetary value of the net assets is reported at its historical cost on the balance sheet? a. physical capital b. excess capital c. net capital d. financial capital

In which of the following types of accounts are increases recorded by credits?   Question 8 options:   Revenue, Dividends   Liability, Revenue   Dividends, Asset   Expense, Liability

Which of the following is a current asset?   Question 3 options:     goodwill     prepaid expenses     accrued liabilities     deferred revenue

Communication (income statement): The balance of Interest Expense from accruing interest to be paid has what effect on the income statement in the current year? Multiple Choice A. Decreases net income. B. No effect. C. Increases net income.