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tion 10 The statement of financial position covers a period of time. et ered ed out of Select one: g question True O False Cuestion 11 Net income shown on the statement of income is added to the beginning balance of retained earnings in the ot yet swered arked out of 30 Flag question Select one: a. Statement of Cashflows b. Statement of Income O c. Statement of Financial Position O d. Statement of Changes in Equity Question 12 Acquiring property, plant, and equipment necessary to operate the business is called a(n) Not yet answered Marked out of 1.00 Flag question Select one: O a. Revenue Activity b. Operating Activity O c. Investing Activity O d. Financing Activity Question 13 Issuing shares is considered an investing activity. lot yet nswered arked out of 30 Select one: O True Flag question O False 14 A publicly traded corporation needs to follow which type of accounting standards? out of Select one: uestion o International financial reporting standards Not-for-profit accounting standards o Accounting standards for private enterprises O Public company standards