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is correct? sheet. A. Patents and copyrights are included with the firm's intangible assets on the balance B. Patents and copyrights are included with the

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is correct? sheet. A. Patents and copyrights are included with the firm's intangible assets on the balance B. Patents and copyrights are included with the firm's long-term liabilities on the balance sheet. C. Patents and copyrights are included with the firm's cost of goods sold on the income statement. D. Patents and copyrights are included with the firm's fixed assets on the balance sheet. Meg Malloy is running an income statement on her QuickBooksTM computer accounting program. Which of the following accounts will be used to calculate gross profit? 6. A. Revenues, net sales, depreciation, and operating expenses B. Revenues, general expenses Revenues, cost of goods sold, tax expenses, net income before taxes D, Revenues, cost of goods sold 7. Depreciation is a systematic write-off of the cost of a tangible asset that is listed on A. The Statement of Cash Flows B. The Balance Sheet C. The Income Statement D. The Statement of Retained Earnings 8. The value of resources the firm owns, minus the amount of money the firm owes to others A. liabilities B. liquidity leverage D)owners' equity

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