5. The accounts payable subsidiary ledger lists each vendor along with amounts paid to the vendors and the remaining amounts owed to them. (T/F)

9. When does a company account for revenue if it uses cash basis accounting?

A.when cash is received, either prior to, at the time of, or after the services are performed

B.when services are performed, even though cash may be received at a later date

C.when services are performed or cash is received

D.when the services are being performed

11. In a perpetual inventory system, when cash sales are recorded, ________.

A.sales revenue increases and cost of goods sold decreases

B.merchandise inventory decreases and cost of goods sold increases

C.merchandise inventory decreases and cost of goods sold decreases

D.sales revenue increases and cash decreases

12. Which of the following financial statements is used to analyze the economic resources, debt, and overall financial position of a company?

A.statement of owner's equity

B.balance sheet

C.income statement

D.statement of cash flows

13. Which of the following account's balance is carried forward to the next accounting period?

A.Depreciation Expense

B.Service Revenue

C.Owner, Withdrawals

D.Accumulated Depreciation