20. Which two types of accounts both increase with a debit? a. expenses and assets b. gains and stockholders' equity c. expenses and liabilities d. gains and assets 21. The concept of materiality indicates that: some items and amounts will (or will not) affect the decision of a decision maker an amount should be verifiable and based c. financial statements should be issued every year d. assets and revenues should not appear higher than they really are a. actual exchange on an 22. The concepts of are often in conflict and time period, conservatism b. separate entity, units of measurement c. relevance, reliability d. going concern, regulation a. with the Securities and Exchange 23. A publicly traded company must file a Form Commission This document contains the annual financial statements for the company 10-Q b. 10-Annual Release Series 8 a. c. 10-A d. 10-K 24. Which two types of accounts both incre: rease with a credit? a. expenses and liabilities b. assets and stockholders' equity c. liabilities and stockholders' equity d. expenses and assets