QUESTION 9 3 points Save Answer Under the cash basis of accounting Cash must be received before revenues are recognized Expenses are recognized only when incurred. Revenues are recognized only when performance obligations are satisfied. Expenses must be matched against the revenue produced. QUESTION 10 3 points Save Answer Entity A's total assets are $900,000 and its liabilities are equal to one-third of its total assets. What is the amount of Entity A's stockholders' equity? $1.200.000 O $675,000 O $600,000 O $300.000 QUESTION 11 3 points Save Answer Which accounts would not be closed at the end of the accounting period: O Service revenue Utilities expense O Dividends Accounts receivable