{"id":607,"date":"2017-11-03T18:32:16","date_gmt":"2017-11-03T12:32:16","guid":{"rendered":"https:\/\/mcqacademy.com\/en\/mcq\/which-one-of-the-following-statements-related-to-an-accounting-is-used\/"},"modified":"2017-11-03T18:32:16","modified_gmt":"2017-11-03T12:32:16","slug":"which-one-of-the-following-statements-related-to-an-accounting-is-used","status":"publish","type":"mcq","link":"https:\/\/mcqacademy.com\/en\/mcq\/which-one-of-the-following-statements-related-to-an-accounting-is-used\/","title":{"rendered":"Which one of the following statements related to an &#8230;. accounting is used."},"content":{"rendered":"<p>Which one of the following statements related to an income statement is correct? Assume accrual accounting is used.<\/p>\n","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","topic":[69],"subject":[7],"education_level":[],"class_list":["post-607","mcq","type-mcq","status-publish","hentry","topic-financial-statements-taxes-and-cash-flow","subject-corporate-finance"],"mcq_note":"Which one of the following statements related to an income statement is correct? Assume accrual accounting is used the labor costs for producing a product are expensed when the product is sold.","mcq_options":[{"right":"no","answer":"The addition to retained earnings is equal to net income plus dividends paid. "},{"right":"no","answer":"Credit sales are recorded on the income statement when the cash from the sale is collected. "},{"right":"yes","answer":"The labor costs for producing a product are expensed when the product is sold. "},{"right":"no","answer":"Depreciation increases the marginal tax rate. "}],"multi_answers":"no","subject_terms":[{"id":7,"title":"Corporate Finance","slug":"corporate-finance"}],"topic_terms":[{"id":69,"title":"Financial Statements, Taxes, and Cash Flow","slug":"financial-statements-taxes-and-cash-flow"}],"_links":{"self":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/mcq\/607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/mcq"}],"about":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/types\/mcq"}],"author":[{"embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/comments?post=607"}],"wp:attachment":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/media?parent=607"}],"wp:term":[{"taxonomy":"topic","embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/topic?post=607"},{"taxonomy":"subject","embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/subject?post=607"},{"taxonomy":"education_level","embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/education_level?post=607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}