Please Provide Explanation.

0 O 0 7. Unearned revenues are recorded on a company's balance sheet under which kind of account? o a. Current asset ob. Owners' or stockholders' equity. c. Non-current asset o d. Liability 8. What is the minimum number of accounts that accounting entries can have? a. One b. Four c. Five 0 d. Two 9. The listing of all the financial accounts within a company's general ledger is called the o a. Chart of accounts b. Journal entry c. Balance sheet od. P&L statement 10. Which is not classified as a current asset? a. Cash b. Product inventory c. Liquid assets d. Prepaid liabilities e. Property 11. Which formula is used to calculate operating income? a. Revenue + Direct Operating Cost = Operating Income b. Indirect Operating Cost - Revenue = Operating Income c. Gross Income - Operating Expenses = Operating Income d. Gross Profit - Indirect Operating Cost = Operating Income 03 O O 0 0 0