BovE 25123 IF GoDDS ARE SArs ARE 5HPPED wrTH THE TERM FOR DESTINATION. mn" TO THE tranos wuAAS&Tea EN GOODS LE THE BUYER b. WHEN GOODS REACH THE BLIVERS DESTINATION THE SELLERS WARSHOLIse 31421 A MULTISTEP INCOME STATEMENT PRESENTS IMPORTANT SUBTOot TO HELP DISTINGUISH COnE AFFECT INCOME sutH as Gaoss rsorm TING RESULTS FROM OTHER, LESS SIGNSCNT ITEMS THAT a. TRUE bFALSE 32(2) CONTRA-REVENUE ACCOUNTS, DD NDT ENABLE ACCOUNTANTS AND MANNGENS TO MONITOR AND CONTROL HOW SALES RETURNS, ALLOWANCES AND DISCOUNTS AFFECT THE COMPANYS BUSINESS OPERATIONS b. FALSE 33(21 THE ACCOUNTING EQUATION CAN BE EXPRESSED AS A-L-5t a. TRUE b. FALSE 34(2) WHICH OF THE FOLLOWING IS FALSE REGARDING A PERPETUAL UNVENTORY SYSTEM a. PHYSICAL COUNTS ARE NEVER NEEDED BECAUSE RECORDS ARE MAINTAINED ON A TRANSACTION-BY TRANSACTION BASIS b. THE INVENTORY RECORDS ARE UPDATED WITH EACH NVENTORY PURCHASE, SALE OR RETURN TRANSACTION c. COST OF GOODS SOLD IS INCREASED AS SALES ARE RECORDED d. A PERPETUAL INVENTORY SYSTEM CAN BE USED TO DETECT SHRINKAGE