Question 7 1 pts Examples of current liabilities are 6-month notes payable, salaries payable, and unearned revenue. O True O False Question 8 1 pts Which of the following is true of the work sheet? Assets are extended into the Balance Sheet columns as credits. O Expenses are extended into the Income Statement columnas debits. Liabilities are extended into the Balance Sheet columns as debits. Revenues are extended into the Income Statement columns as debits. Question 5 1 pts Which of the following accounts should be closed to the Income Summary account at the end of the fiscal year? Depreciation Expense-Machinery O Cash O Accounts Receivable Accounts Payable 1 pts Question 6 The current ratio shows the: the profitability of a company, short-term debt-paying ability of a company, the quality of the current assets of a company long-term debt-paving ability of a company o