10. Which of the following is NOT TRUE about the basic and additional financial statements a) Revenues and expenses to generate these revenues plus other revenues and prepaid expenses are presented on the Income Statement b) Statement of financial position is another name for the balance sheet Assets are presented on the asset side of the statement of financial position; whereas the financial sources of assets are presented on the liabilities & equity side They are all prepared according to the accrual basis of accounting except the statement of cashflows Bo brak