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09. Which of the following is NOT true about Balance Sheet? (2.5 points) a) A ba lance sheet reports the balances in assets, liabilities, and

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09. Which of the following is NOT true about Balance Sheet? (2.5 points) a) A ba lance sheet reports the balances in assets, liabilities, and owner's equity over some period of time (e.g. a year or a quarter) b) The dollar amount of assets must equal the dollar amount of liabilities plus the dollar amount of owner's equity for the balance sheet to balance. c) The ending balance sheet of a year is the beginning balance sheet of the next year. d) A balance sheet reports the balances in assets, liabilities, and owner's equity as of a specific date Q10. Accrual adjustments deal with: (2.5 points) a) Current assets and current liabilities only b) Non-current assets and non-current liabilities only c) Assets, liabilities and equity only d) Owner's equity only

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