1)The allowance for doubtful accounts is reported as a contra-asset on the balance sheet

Select one:

True

False

2)When goods are shipped FOB destination, the revenue from the sale is recognized on the shipment date.

Select one:

True

False

3)Tangible long-lived productive assets differ from intangible long-lived productive assets in that tangible assets have physical substance whereas intangible assets have no physical substance.

Select one:

True

False

4)Treasury stock is a corporation's own stock that was issued and then repurchased, and is still held by the corporation.

Select one:

True

False