Question Completion Status: QUESTION 4 Which of the following correctly describes the various financial statements? O a. The statement of stockholders' equity is a financial statement at a specific point in time b. An income statement covers a period of time c. The balance sheet is a financial statement that covers a period of time Od. The cash flow statement is a financial statement at a specific point in time QUESTION 5 Which one of these accounts is not a current liability? a. Salaries payable b. Accounts payable c. Salaries expense d. Taxes payable QUESTION 6 QueSLUI CU JLULU QUESTION 6 What is true about common stock? a. It does not have voting rights b. It has a limited life O c. It pays interest on its ownership d. It is a residual security in liquidation QUESTION 7 What are probable future sacrifices called and how are they reported? a. Assets on the balance sheet O b. Stockholders' equity on the balance sheet c. Dividends on the statement of stockholders' equity d. Liabilities on the balance sheet QUESTIONS Which of the following is a not a liability on the balance sheet? O a. Salaries payable O b. Long-term debt O c. Unearned revenue O d. Prepaid expenses QUESTION 9 What account is not included on the balance sheet? a. Unearned revenue b. Revenue c. Salaries payable d. Prepaid expenses