An adjusting entry for accrued expenses results in an increase to an expense account and an increase to a liability account. True False A company started its fiscal year with stockholders equity of $217, 000. During the year, it issued stock for S294, 000, recorded expenses of $840, 000, and paid dividends of $56, 000. If its ending stockholders' equity was $581, 000, what was the company's revenue for the year? $910, 000 none of these are correct $1, 204, 000 $1, 260, 000 $966, 000 Generally accepted accounting principles are: principles that have been proven correct by academic researchers. standards that indicate how to report economic events. theories that are based on physical laws of the universe. income tax regulations of the Internal Revenue Service. none of these are correct. Accounting time periods that are one year in length are referred to as interim periods. True False