homework for only one choise

6. When making a general journal entry, debits should equal credits: a) Always b) Never c) Sometimes d) Only when there is no gain or no loss 7. Sales discounts should be classified as: a) A liability b) An expense c) Contra-revenue d) Revenue 8. Which is not a cash activity listed on the cash flow statement? a) Operating activities b) Purchasing activities c) Investing activities d) Financing activities 9. A financial statement that reports accounting data at a specific date is the a) income statement b) statement of cash flows c) balance sheet d) none of the above 10. Transactions are initially recorded in the a) general ledger b) trial balance c) general journal d) balance sheet