Which of the following statements is incorrect? O 1 An adjusted trial balance shows the account balances after they have been revised to reflect the effects of end-of-period adjustments. 2) Interim financial reports can be based on one-month or three-month accounting periods. 3) The fiscal year is any 12 consecutive months used by a business as its annual accounting period. 4) Property, plant, and equipment are long term assets. 5) The cash basis of accounting is consistent with GAAP