E) $%7,000. 7. Interim financial reports are financial reports: A) Covering less than one year, usually based on one-or three-month periods. B) That are prepared before any adjustments have been recorded. C) That show the assets above the liabilities and the liabilities above the owner's equity. D) In which revenues are reported in the income statement when cash is received and expenses are reported when cash is paid E) In which the adjustment process is used to assign revenues to the periods in which they are earned and to match expenses with revenues