Unearned revenues O occur when the service has been provided and recorded as a liability before cash is received. O arerecorded as liabilities before the service is provided. O occur when the service has been provided and already recorded. O occur when the service has been provided but not yet recorded. Which of the following steps in the accounting cycle may be performed more frequently than annually? O Post closing entries. O Prepare a trial balance. O Journalize closing entries. O Prepare a post-closing trial balance. Which of the following depicts the proper sequence of steps in the accounting cycle? O prepare a trial balance, prepare financial statements, prepare adjusting entries O prepare atrial balance, prepare adjusting entries, prepare financial statements O prepare a trial balance, post to ledger accounts, post adjusting entries O journalize the transactions, analyze business transactions, prepare a trial balance Which of the following will be affected by a reclassification of assets from current to non- current? O current ratio O accounts payable turnover O total assets O income summary An intangible asset O derives its value from the rights and privileges it provides the owner. O is aliability because it has no physical substance. O is never amortized because it has an indefinite life. O cannot be classified on the balance sheet because it lacks physical substance