Question: 1. Another name for the balance sheet is a) Statement of Operations b) Statement of Financial Position 2. The balance sheet heading will specify a

1. Another name for the balance sheet is a) Statement of Operations b) Statement of Financial Position 2. The balance sheet heading will specify a a) Period of Time b) Point of Time 3. Which of the following is a category or element of the balance sheet? a) Expenses b) Gains c) Liabilities d) Losses 4. Which of the following is an asset account? a) Accounts Payable b) Prepaid Insurance c) Unearned Revenue

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