1 The rules for debit and credit and the normal balance of assets are the same as for Dividend Select one True False Prepaid expenses can best be described as an amount- 2 Select one a. Paid and reported on the income statement b. Not paid and not reported on the income statement c. Paid and reported on the balance sheet d. Not paid and reported on the income statement The Cash basis recognizes revenue when earned 3 Select one Which basic assumption is used when Palestine co purchased 4 21000 meters of land and not recorded the transaction I Select one a. Periodic ty assumption b. Monetary unit assumption c. Economie entity assumption d. Going concern assumption