Author Question: Indicate with an X the one financial statement where you would expect to find each line item: ... (Read 36 times)

imowrer · **on:** Jul 5, 2018

Indicate with an X the one financial statement where you would expect to find each line item:

Income Statement Statement of Cash Flows Balance Sheet
1. Cash paid for insurance
2. Prepaid insurance
3. Insurance expense
4. Wages paid to employees
5. Wages payable
6. Wages expense
7. Accounts payable
8. Cost of goods sold
9. Inventory
10. Cash paid to vendors

Question 2

A deliberate act or untruth intended to obtain unfair or unlawful gain is a(n):
a. audit
b. embezzlement
c. fraud
d. Theft

pangili4 · **Reply #1 on:** Jul 5, 2018

Answer to Question 1

Income Statement Statement of Cash Flows Balance Sheet
1. Cash paid for insurance X
2. Prepaid insurance X
3. Insurance expense X
4. Wages paid to employees X
5. Wages payable X
6. Wages expense X
7. Accounts payable X
8. Cost of goods sold X
9. Inventory X
10. Cash paid to vendors X

Answer to Question 2

C