12- The trading account is prepared to know gross profil True False 13- The owner can ascertain the financial position of the busine False True 14- A trial balance is an account, and it is not a statement True False 15- A business is an activity which is carried out with the inten True False 16-Balance sheet indicates the expenditure & income from the False True 17- Bank balance as per cash book means debit balance as per True False False 18-Funds" (as in "flow of funds") always means cash and nea True 19-Depreciation is regarded as a non-cash expense. True False 20- Depreciation is charged on current assets. True False