7 and 8

Question 7 (1 point) Accountants: [SELECT ALL THAT APPLY generally construct financial statements using the cash-based approach must apply Generally Accepted Accounting Principles to portray fairly how the firm will perform in the future. generally construct financial statements using the accrual-based approach must apply Generally Accepted Accounting Principles to portray fairly how the firm has 12 performed in the past Question 8 (1 point The DuPontidentity can be used to helo a financial manaser determine thes 17 I. degree of financial leverage used by a firm. Il, operating efficiency of a firm ll. utilization rate of a firm's assets 20 IV. liquidity a firm's assets. 1 I, II, and IlIl only 2) Il and Ill only 3) I,I, lI. and Iv 4) I and Ill only 5) I, Ill, and Iv only