21) Balance Sheets and Income Statements show the financial condition and operating results of a company over a distinct period of time, for example for a gyarter or a full year. a. True b. False 22) GAAP is used in accounting to signity a. Graduated income tax rates b. The way to make Book Value equal to Net Book Value versus Market Value c. Generally Accepted Accounting Principles that were introduced in the 1930's d. The way that we can distinguish real assets from financial assets