11. Which of the following statements is true?a. Only the effects of internal transactions must be recognized and recorded in the entity's accounting system.b. An internal event is a transaction between an entity and its environment.c. Not all recognizable events are supported by a standard source document.d. Only the effects of external events must be recognized, measured, and recorded in an entity's accounting system.12. Windstar Corp. purchased supplies at a cost of $6,000 during the year. At December 31, supplies on hand are $1,400. Supplies expense for the year was $5,200. How much were supplies on hand at January 1?a. $ 2,200 b. $ 11,200 c. $ 1,400 d. $ 600

1 1. Which of the following statements is true? a. Only the effects of internal transactions must be recognized and recorded in the entity's accounting system b. An internal event is a transaction between an entity and its environment. c. Not all recognizable events are supported by a standard source document d. Only the effects of external events must be recognized, measured, and recorded in an entity's accounting system. 12. Windstar Corp purchased supplies at a cost of $6,000 during the year. At December 31, supplies on hand are $1.400 Supplies expense for the year was $5.200. How much were supplies on hand at January !" a $ 2,200 b. $ 1 1.200 C. $ 1.400