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  3. 2. financial accounting information should help us

2. Financial accounting information should help users evaluate a. make versus buy decisions. b. various...

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Accounting

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2. Financial accounting information should help users evaluate a. make versus buy decisions. b. various opportunities to purchase equipment future cash flows d. decisions made by the Human Resources Department 3. The purchase of an asset for cash a. decreases assets and increases liabilities. b. increases assets and shareholders' equity. cleaves total assets unchanged. d. increases assets and liabilities. 4. Which of the financial statements does not cover a period of time? a. Statement of cash flows b. Balance sheet Statement of retained earnings d. Income statement 5. When a company has performed a service but has not yet received payment, it a. debits revenue from services and credits accounts payable. b. makes no entry until the cash is received cdebits accounts receivable and credits revenue from services. d. debits revenue from services and credits accounts receivable

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