When comparing income statement items to balance sheet items in a single ratio, we use the

Treasury stock should be reported as a(n)

a. current asset. b. investment. c. other asset. d. reduction of stockholders' equity

At the time the transaction occurred, which of the following would result in an increase in net income under the accrual basis of accounting, but would not result in an increase in net income under cash basis accounting?

A) purchase of supplies for cash B) performance of services on account C) use of supplies purchased earlier D) receipt of cash for services that were performed earlier on account