Question1)

The gross revenues that make up the income of a business are reported on the ________.

Options:

1)Balance Sheet

2)Income Statement

3)Statement of Owners Equity

Question2)

In the accounting equation, liabilities are equal to ________.

Options:

1)the amount of assets owned outright by the owners

2)resources owned by the company

3)debts owed to others

Question3)

On the Balance Sheet, Assets minus Liabilities is represented by which of the following?

Options:

1)Current Assets

2)Net Income

3) Stockholders' Equity

Question4)

Current assets show up ________.

Options:

1)after fixed assets but before non-current assets on the balance sheet

2)in the first section of the balance sheet

3) after fixed and non-current assets on the balance sheet

Question5)

Upon which of the following statements would you find total assets?

options:

1)Income statement

2)Statement of stockholders equity

3)Balance sheet

Question 6)

or each account listed, determine whether the account belongs on the Balance Sheet or the Income Statement