QUESTION 8 If accrued revenue is not recorded, then: Net income will be overstated. Assets will be overstated. Liabilities will be understated. Revenues will be understated. QUESTION 9 Which of the following accounts would be reported on the Income Statement? Wage expense. Dividends. Unearned revenue. Accumulated depreciation. QUESTION 10 A Balance Sheet reports: Changes in assets, liabilities, and stockholders' equity over a period of time. Assets, liabilities, and stockholders' equity at a specific date. Revenues and expenses at a specific date. Revenues and expenses over a period of time. QUESTION 11 Adjusting entries to Prepaid Expenses will: Increase revenues and reduce liabilities. Increase expenses and reduce assets. Increase revenues and increase assets. Increase expenses and increase liabilities