1. Under the accrual basis of accounting, the Matching Principle requires that expenses be matched with

1. Liabilities
2. Assets
3. Revenues

2. What financial statement lists assets from current to long term?

1. Income Statement
2. Balance Sheet
3. Cash Flow Statement
4. Statement of Retained Earnings

3. The income statement shows which of the following?

1. Assets and liabilities
2. Revenue and expenses
3. Receipts and payments

4. A journal entry posting requires a minimum of how many accounts?

1. 2
2. 1
3. 3

5. The list of accounts that are available for posting transactions is the _________ of accounts.