Match the following statements. Do NOT use any $$ Time left $0$:$11$:$50$ than one time.

$25$

$26$

$33$

$34$

Income from operations

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are balance sheet accounts

are: revenue, expenses, and owner's drawing accounts

is considered an operating expense

Is the basis to calculate net income, under accrual accounting.

generates the lowest net income, in periods of inflation.

generates the highest net income, in periods of inflation.

causes the owner's capital account to decrease

is a contra assef account

is a current liability

is an intangible asset

is not accepted under GAAP

is gross profit $-$ operating expenses