Interim Financial Reports Are Financial Reports

Multiple Choice

Interim financial reports are financial reports

A) In which the adjustment process is used to assign revenues to the periods in which they are earned and to match expenses with revenues.
B) That show the assets above the liabilities and the liabilities above the equity.
C) That are prepared before any adjustments have been recorded.
D) Covering less than one year, usually based on one- or three-month periods.
E) In which revenues are reported in the income statement when cash is received and expenses are reported when cash is paid.