An expense account is used exclusively in Financial Accounting.

Question 1 options:

	True
	False

Match the following:

Question 2 options:

1234	Helps determine when to pay bills
1234	proves the accounting equation
1234	Revenues - Expenses
1234	shows investments and withdrawals

1.	Balance Sheet
2.	Profit & Loss Statement
3.	Statement of Owner's Equity
4.	Statement of Cash Flow

An "open" transaction means that payment has been sent.

Question 3 options:

	True
	False

Direct manual posting to the reconciliation accounts is possible.

Question 4 options:

	True
	False