Need Help With basic Financial System questions.

Question 11 (1 point) Which of the four accounts listed below would be considered the most liquid? O Land O Equipment O Inventory Accounts Receivable Question 12 (1 point) A journal entry contains a debit to an asset account and a credit to a revenue account. This is an example of a(n): deferred expense O accrued revenue O unearned revenue O accrued expense Question 13 (1 point) There are two methods used to account for transactions. These methods are: O accrual and deferral O cash and accrual o deferral and prepaid O cash and deferral Question 14 (1 point) Accrual accounting is more complex than the cash basis. O True O False Question 15 (1 point) A deferral refers to an event: O where the recognition of an expense or revenue is recorded before the cash is paid or received O where the liability for an expense is recorded before the expense is actually incurred O where the recognition of an expense or revenue is recorded after the cash is paid or received O where the liability for an expense is recorded after the expense is actually incurred