QUESTION 7 The financial statement which includes "As of a specific date in its heading is the: a. income statement O b. balance sheet c statement of cash flows d. statement of retained earnings QUESTION 8 Given the following list of accounts, calculate Total Assets: Accounts Receivable $10,000 Capital Stock $20,000 Cash $15,000 Revenues $50,000 Rent Expense $12,000 O a. $25,000 b. $45,000 C. $83,000 d. $95,000 QUESTION 9 The financial statement that presents a summary of the revenues and expenses of a business for a specific period of time, such as a month or a year, is called a(n): a. balance sheet O b.income statement c. statement of cash flows Od statement of retained earnings QUESTION 10 Which of the following group of accounts are all assets? a. Buildings, Accounts Payable, Accounts Receivable O b. Accounts Receivable, Revenues, Supplies O c. Cash, Buildings, Supplies d. Unearned Revenues, Cash, Rent Expense QUESTION 11 Which of the following situations decreases stockholder's equity? a. Cash is received from customers. b. Utility bill is incurred for the month. c Supplies are purchased on account. O d. Services (revenues) are provided on account