Develop a brief answer to each of the following questions.

1. Which is the most important issue in recording a transaction: recognition, valuations, or classification?

2. What is an example of how a company could make false financial statements through a violation of the recognition concept?

3. How are assets and expenses related, and why are the debit and credit effects for assets and expenses the same?

4. In what way are unearned revenues the opposite of prepaid expenses?