Question 1 Accrued expenses are; O Current Liabilities O Current Assets O Liabilities O Assets Question 2 Prepaid revenue is; O Current Assets O Assets Current Liability O Liability Question 4 When the firm acknowledges that an amount becomes irrecoverable then Bad debts account is debited to....... O Trade receivables O Loss O Bank O Cash Question 6 The first statement prepared from the adjusted Trial Balance is; O Income statement Balance sheet O Statement of cash flows O Statement of changes in owner's equity