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TB MC Qu. 03-158 All of the following statements regarding... All of the following statements regarding profit margin are true except Multiple Choice Profit margin reflects the percent of profit in each dollar of revenue, Profit margin is also called return on sales Profit margin can be used to compare a firm's performance to its competitors. Profit margin is calculated by dividing net income by net sales. Profit margin is not a useful measure of a company's operating results, TB MC Qu. 03-162 Accrued revenues: Accrued revenues: Multiple Choice At the end of one accounting period result in cash receipts in a future period. At the end of one accounting period often result in cash payments in the next period. Are also called unearned revenues. Are listed on the balance sheet as liabilities. Are recorded at the end of an accounting period because cash has already been received for revenues earned, TB MC Qu. 03-230 The adjusting entry to record an accrued... The adjusting entry to record an accrued revenue is: Multiple Choice Increase an expense; increase a liability Increase an asset increase revenue. Decrease a liability, increase revenue. Increase an expense; decrease an asset Increase an expense; decrease a liability