Question 8 (1 point) A company typically records the amount owed to suppliers for goods or services when: they are paid for a verbal commitment to buy has been made they are ordered the goods or services are received Question 9 (1 point) After adjusting journal entries are prepared and posted, but before closing journal entries are prepared and posted, the balance in retained earnings is equal to zero the amount to be reported on the current year's statement of financial position. the amount that was reported as the ending retained earnings on the previous years statement of financial position the difference between total assets and total liabilities Question 10 (1 point) Blended payment loans require a loan amortization schedule separating principal and interest. This is required, in part, because O interest only is reflected on the cash flow statement. interest and principal needs to be reflected under current and not current liabilities section of the statement of financial positon. the interest expense is recorded separately from the reduction of the loan payable. none of the above Question 11 (1 point) If a company issues only one type of shares, they must be: non-voting shares preferred shares cumulative shares fixed dividend shares common shares