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Indicate whether each of the following would be reported in the financial statements as a (a) current asset, (b) property, plant, and equipment, (c) current

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Indicate whether each of the following would be reported in the financial statements as a (a) current asset, (b) property, plant, and equipment, (c) current liability, (d) revenue, or (e) expense: 1. Truck 2. Accumulated Depreciation 3. Telephone Expense 4. Fees Earned 5. Wages Payable 6. Prepaid Insurance 7. Office Supplies 8. Dining Expense 9. Unearned Rent The revenue recognition principle a. states that revenue is not recorded until the cash is received Ob. determines when revenue is credited to a revenue account c. is not in conflict with the cash method of accounting d. controls all revenue reporting for the cash basis of accounting

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