3. Indicate whether each of the following statements is true or false by entering a T or an F in the space indicated in your Workbook. Explain the reason for each F response in the space provided. A. Anyone in the business can initiate a business transaction. B. Every journal entry is based on a source document. C. The only purpose of source documents is to provide the basis for a jour- nal entry. D. A business that sells to its customers on a cash basis does not normally use a sales invoice. E. Journal entries for all cash sales slips are essentially the same. F. Sales invoices are used by businesses that make most of their sales on account. G. For every sales invoice, there is a debit to an account receivable. H. The transaction log that is produced by a POS terminal is used by an accounting clerk to record a debit to Bank and a credit to Sales. 1. Every sales invoice is also a purchase invoice. J. The debit entry for every purchase invoice is always the same. K. The supporting document for a payment on account is the tear-off por- tion of a cheque. L. The credit entry for every cheque copy payment is always the same. M. Cheques received are considered to be cash received. N. The bank has no right to make deductions from the accounts of its customers. 0. We debit Bank when we receive a bank debit memo. P. The cost principle states that every asset acquired is to be recorded at its cost price. Q. The best objective evidence of a purchase is a purchase invoice received from an independent supplier. R. Only provincial governments are allowed to charge sales taxes. S. The purchaser of goods or services is required to make accounting en- tries for provincial sales tax. T. The HST account is an expense account. U. A contra account is used in retail sales tax accounting. V. The normal remittance entry for HST is a debit to HST Payable and a credit to Bank