what is the key formula used in

Select the single best answer:A$.$ the income and expenses when they occurB. the sum of your Accounts Payable account$($s$)$C$.$ the sum of your Accounts Receivable account$($s$)$D$.$ the income and expenses when you receive cashE. only the expenses when you make a payment What are the principal methods for keeping track of a business's income and expenses?

Select all answers that apply:

A$.$ the Cash Receipts and Disbursements method

B$.$ the Cash method

C$.$ the Accrual methodD. the Hybrid methodE. the Deferral method The which summarizes the activity of a business during an accounting period, shows whether the business made a profit or took a loss. $($Please type in the option below that best completes the sentence.$)$

Income Statement

Balance Sheet

Equity Statement

Cash Flow Statement

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