1. The income statement is prepared from:
a. the income statement Columns of the worksheet
b. both the adjusted trial balance in the income statement Columns of the worksheet
c. either of the adjusted trial balance or the income statement Columns of the worksheet.
d. the adjusted trial balance
2. When is revenue recognized in the following situations?
Revenue from selling products
Revenue from services rendered
Revenue from permitting others to use enterprise assets
Revenue from disposing of assets other than products