Canvas 02:29:23 Time Remaining 5 * 3 points In the financial accounting records, assets are reported at: Actual (historical) cost. Current replacement cost. OOOO Current market value. 1 Inflation-adjusted cost. 2 6 3 3 points The method of accounting that recognizes revenue when it is earned and expenses when incurred is: Accrual accounting. Cash accounting. 4 Managerial accounting. Financial accounting. 5 6 3 points The ending balance from the Statement of Retained Earnings is used to prepare the: Income Statement. 7 Balance Sheet 8 Adjusted Trial Balance. Unadjusted Trial Balance. 9 10 8 3 points Equipment Salaries Payable and Retained Earnings have normal balances of ESC 738 DOD