Which of the following shows how recognizing revenue on account will affect a company's financial statements? 

Multiple Choice 

Balance Sheet Income Statement Statement of Cash Flows Assets = Liabilities + Equity Revenues − Expenditures = Net Income + NA + + NA + NA Balance Sheet Income Statement Statement of Cash Flows Assets = Liabilities + Equity Revenues − Expenditures = Net Income + NA + + NA + + OA Balance Sheet Income Statement Statement of Cash Flows Assets = Liabilities + Equity Revenues − Expenditures = Net Income + NA + NA NA NA NA Balance Sheet Income Statement Statement of Cash Flows Assets = Liabilities + Equity Revenues − Expenditures = Net Income + NA + + NA + − IA

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