Different branches of Accounting are Financial Accounting, Managerial Accounting, Tax Accounting, and Bookkeeping. * True False If a company pays a dividend of $20,000 to its shareholders, it will debit Cash by $20,000 and credit Retained Earning by $20,000.* True False If a company purchases $9,500 of supplies on credit, it will debit Accounts Receivables by $9,500 and Credit Supplies by $9,500.* True False The income statement is like a snapshot of the company's financial condition at a specific moment in time (usually the month-end or year-end). * True False The income statement lists revenues first, followed by expenses. Then, the statement shows net income (or net loss).* True False Investments by stockholders and revenues earned decrease stockholders' equity accounts as credits, whereas, dividends and expenses incurred increase stockholder's equity with debits. * True O False