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Questions 1, 2, 3, and 4 please X Canvas XCO Question 1 Cash collections for revenue items can occur any of the other answers. before
Questions 1, 2, 3, and 4 please
X Canvas XCO Question 1 Cash collections for revenue items can occur any of the other answers. before the revenue is earned. after the revenue is earned. at the time the revenue is earned. Question 2 Prepaid expenses all of the other answers are correct. will result in an expense being recorded sometime in the future, result from paying for an expense such as rent in advance of using it. are an asset. Question 3 Which of the three lines on the heading of each financial statement are the same? 3rd 2nd 1st Question 4 The amount of insurance expense reported on the income statement is the amount of cash paid for insurance in the current period less any unpaid insurance at the end of the period. the amount of insurance used up or incurred in the current period to help generate revenue. the amount of cash paid for insurance in the current period. an increase in net incomeStep by Step Solution
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