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Can somebody answer all of these true/false questions? Thank you! True False Circle the 8. The term recogonmens to report an economie event in the

Can somebody answer all of these true/false questions? Thank you! image text in transcribed
True False Circle the 8. The term "recogonmens to report an economie event in the financial FALSE TRUE 9. Cash received in advance for services not yet performed i TRUE 10. The primary goal of accrual accounting is to matclh increases a liability called uneaned revenue. FALSE assets with the claims on assets. TRUE FALSE can best be describes as a decrease in a claim and a decrease in an asset. FALSE TRUE 12. A business's internal are TRUE 13. A business's internal controls are designed to eliminate all occurrence of fraucd. I controls are designed to reduce the probability of occurrence of fraud. FALSE TRUE FALSE 14. An expense is the economic benefit derived from operating the business. TRUE 15. A cost can be either an asset or an expense FALSE TRUE FALSE 16. Wh en a company provides goods or services and sends bills to clients, this is known as providing goods or services on account and the specific asset that is increased is called Accounts Receivable TRUE FALSE IIemporary accounts are closed out to retained earnings at the end of each accounting period. TRUE FALSE End of

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