Which of the following statements is false? Multiple Choice An income statement reports revenues earned less expenses incurred An unadjusted balance is a of accounts and balances after adjusting entries have been recorded and posted to the ledger Interim financial reports can be based on a time period shorter than one year $,$ such as a one $-$ month or a three$-$ month accounting periods The fiscal year is any $12$ consecutive months $52$ weeks$)$ used by a business as its annual accounting Property plant $,$ and equipment are referred to as plant assets