An adjusted trial balance is completed to check that debits still equal credits after the income statement is prepared. True False Stockholders are creditors of a corporation. True False Accounts increase on the same side as they appear in the accounting equation: A=L+ SE. True False Reporting revenues when they are earned and expenses when they are incurred is called basis accounting. accrual cash expense recognition cost What is the minimum number of accounts that must be involved in any transaction? One Two Three There is no minimum. Which of the following expressions of the accounting equation is correct? Liabilities + Assets = Stockholder's Equity Stockholder's Equity + Assets = Liabilities Assets = Liabilities - Stockholder's Equity Stockholder's Equity = Assets - Liabilities