5 questions about ture or false

10. Liquidity, solvency, and profitability are interrelated.

14. GAAP requires CPA's to express unqualified opinions when auditing financial statements.

17. In many cases, GAAP is irrelevant to the decison making needs of management.

19.Not all direct manufacturing costs can be can be traced to specific cost objects. 22. Product costs are initially reported on income statements as expenses.