QUESTION 1 3 point Entity started the year with total assets of S420,000 and total liabilities of S107000During the year the business recorded 5713.000 neres, 5450,000 in expenses and dividends of $25,000 Stockholders equity at the end of the year was $313,000 O $376,000 $288,000 $351,000 3 point QUESTION 2 Recognizing revenues when performance obligations are satisfied and recognizing expenses when incurred best describes the Income tax basis of accounting Cash basis of accounting Accrual basis of accounting Accounting information system