3. Cash received by a company prior to its delivery of goods to a customer is MOST LIKELY recorded when received as: a. Deferred revenue, an asset b. Deferred revenue, a liability c. Deferred revenue, an income statement item d. Sales, an income statement item If a company records fictitious income, it most likely would try to cover up its fraud by: a. Decreasing assets b. Increasing expenses c. Increasing liabilities d. Creating one or more fictitious asset Which of the following elements of financial statements is most closely related to the measurement of a company's financial position? a. Revenues b. Expenses c. Equity d. Liabilities e. Assets