Answer the questions

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Your name and surname + your telegram nick (@ivanivanov) *

Listen carefully and answer the questions.

1. Which of the following names is NOT associated with the Profit and Loss statement? *

0 points

Income statement

Statement Of Financial Position

Statement Of Operations

2. The P&L statement heading will specify which of the following? *

0 points

A POINT In Time

A PERIOD Of Time

3. Amounts earned by a company in its main operating activities are *

0 points

Revenues

Gains

4. A company disposes of equipment that it no longer uses in its business. The amount received by the company is more than the amount the asset is carried at in the accounting records. The company will report a(n) *

0 points

Expense

Gain

Loss

Revenue

5. On December 1 a company borrowed $100,000 at 12% per year. The interest will be paid quarterly, with the first payment due on March 1. What should the company report on its income statement for December? *

0 points

Nothing

Interest Expense Of $1,000

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