Norris Company experienced the following transactions during 2013, its first year in operation. Issued $6,000 of common stock to stockholders. Provided $2, 300 of services on account. Paid $1, 600 cash for operating expenses. Collected $1, 900 of cash from accounts receivable. Paid a $100 cash dividend to stockholders. The amount f net income recognized on Norris Company's 2013 income statement is; A. $500. B. $400. C. $700. D. $600. The matching concept refers to the "matching" of: A. expenses and liabilities B. expenses and revenues C. assets and equity D. assets and liabilities Rialto Company experienced an accounting event that affected its financial statements as indicated Which of the following accounting events could have caused these effects on Rialto's statement. A. Paid a cash dividend. B. Earned cash revenue. C. Borrowed money from a bank. D. None of these. Merchandising businesses A. manufacture the goods they sell. B. generate revenue primarily by providing services to customers. C. buy the merchandise they sell from suppliers. D. include dry cleaning companies and law firms