Multiple Choice

Where revenues are reported on the income statement when cash is received and expenses are reported when cash is paid.

That cover less than one year, usually spanning one, three, or six$-$month periods.

That show the assets above the liabilities and the liabilities above the equity.

Where the adjustment process is used to assign revenues to the periods in which they are earned and to match expenses with revenues.

That are prepared before any adjustments have been recorded.