3.3-*PLEASE ANSWER ALL 5 QUESTIONS*

5 multiple choice questions.

1.

2.

3.

4.TRUE OR FALSE

5.

mount of unearned revenue and service revenue shown on the Year 1 financial statements would be: Multiple Choice hich of the following shows how the adjusting entry to recognize services provided to a client who paid for the services prior to the work being performed? Multiple Choice service revenue and the cash flow from operating activities shown on the Year 1 financial statements would be: Multiple Choice Service Revenue Cash Flow $2,246 $1,120 Regarding the relationships of revenues and expenses to assets and liabilities, state whether each of the following statements is true or false. a) Recording an increase in a revenue account may be associated with a decrease in assets. b) Recording an increase in a revenue account may be associated with a decrease in liabilities. c) Recording a decrease in assets may be associated with an increase in an expense account. d) A decrease in Supplies will be accompanied by an increase in Supplies Expense. elated to this contract on its income statement for the year ended December 31, Year 1? How much would the company report as net cash flows from operating activities for Year 1? Multiple Choice $6,000;$6,000 $24,000;$24,000 $6,000;$24,000 $0;$24,000