Interim Financial Statements Refer to Financial Reports

Multiple Choice

Interim financial statements refer to financial reports:

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