5. Which of the following are examples of temporary owners equity accounts?

a. Revenue accounts

b. Stock

c. Asset accounts

d. Liability accounts

6. The recording of a sale (revenue) which increases the balance of the accounts receivable account is an example of which type of accounting?

a. Double-entry accounting

b. General ledger accounting

c. Revenue accounting

d. Cost accounting

7. Which of the following is reported on the income statement?

a. The total equity of a business on a specific date

b. The total assets of the business on a specific date

c. The up-to-date balances of all of the businesss individual accounts

d. A businesss profit or loss for a specific period of time

8. Which of the following is contained in the general ledger?

a. The total equity of a business on a specific date

b. The total assets of the business on a specific date

c. The up-to-date balances of all of the businesss individual accounts

d. A businesss profit or loss for a specific period of time