Please answer all parts of the question to be rated:

15) Which of the following is recorded as a liability on the balance sheet? A. Prepaid Expenses B. Equipment C. Note Payable D. Common Stock 16) What are the 3 main financials statements? A. Unbalanced Sheet, Income Statement & Statement of Retained Earnings B. Balance Sheet, Income Statement & Statement of Profits Retained C. Balance Sheet, Statement of Operations & Statement of Retained Earnings D. Balance Sheet, Income Statement Statement of Retained Earnings 17) You are the sole owner, which company would you most likely form if you are not concerned with your access to capital? A. Sole Proprietorship B. Corporation C. Partnership D. Limited Liability Corporation 18) On what financial statement do prepaid expenses get reported? A. Statement of Cash Flows B. Balance Sheet C. Statement of Retained Earnigs D. Income Statement 19) Supplies and lendors (banks) represent which type of stakeholder? C. Internal A. Shareholder B. External D. Stockholders 20) Prepaid expenses are treated as alan) A. expense B. liability C. asset D. income