QUESTION 1 (14 MARKS) Accounting terminology Listed below are nine technical accounting terms introduced in this chapter Each of the following statements may or may not) describe one of these technical terms. In the space provided beside each statement, indicate the accounting om described, or answer "None the statement does not correctly describe any of the terme 1.1. A financial statement showing the revenue, expenses, and not eaming of a corporation during the current accounting period 12. A distribution of cash to stockholders 1.3. A distribution to stockholders of additional shares of stock, accompanied by a proportionate reduction in the par value per share 1.4. The market price of a share of preferred stock, divided by the net income of the corporation 1.5. A correction in the amount of net income reported in an earlier accounting period 1.6. An event that is material in dollar amount, unusual in nature, and not expected to recur in the foreseeable future 1.7. A subtotal sometimes included in an income statement to assist investors in forecasting the income of future accounting periods