cion 1 et Which of these best explains fixed assets? red Select one: d out of O a. Are of long life and are not purchased specifically for resale O b. Are expensive items bought for the business question C. Are bought to be used in the business O d. Are items which will not wear out quickly 2 In accounting/bookkeeping, the term posting refers to Select one: ut of O a. None of the above estion O b. Preparation of Financial statements from Trial balance 0 c. Transfer of information from ledger to trial balance d. Transfer of entries from journal to ledger 3 The left side of the ledger is credit Select one: ut of O True uestion False stion 4 Furniture and equipment are recorded in the same ledger account yet vered Select one: ked out of . True Flag question O False