Which of the following accounts has a normal credit balance?

Multiple Choice

• Accounts Receivable

• Equipment

• Utilities Expense

• Deferred Revenue

Which of the following statements about financial statements is not correct?

Multiple Choice

• Cash flows from financing activities would appear on the Statement of Cash Flows.

• Dividends would appear on the Statement of Retained Earnings.

• Assets would appear on the Income Statement.

• Revenues would appear on the Income Statement.