Which of the Following Would Be Reported on the Income

question 167

Multiple Choice

Which of the following would be reported on the income statement for Year 2?

• A)Supplies that were purchased and used in Year 1 but paid for in Year 2.
• B)Supplies that were purchased in Year 1,but used in Year 2.
• C)Dividends that were paid in Year 2.
• D)Accounts Receivable as of December 31,Year 2.

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Definitions:

Automatic Reflex

An automatic reflex is an involuntary and nearly instantaneous movement in response to a stimulus, not requiring conscious thought.

Obsessive-Compulsive Checkers

Individuals who excessively check things (such as locks, appliances, and switches) due to fears and anxieties related to obsessive-compulsive disorder.

Obsessive-Compulsive Cleaners

Individuals who experience a compulsive need to clean or organize as a symptom of obsessive-compulsive disorder (OCD).

Phobias

Intense, irrational fears of specific objects or situations that pose little or no actual danger.