Do justify your answer otherwise it is not acceptable

State True and False

1. State with reasons, regardless of whether the accompanying assertions are valid or bogus:

(a) Accrual idea suggests bookkeeping on money premise.

(b) The Sales book is kept to record both money and credit deals.

(c) Bank compromise explanation is set up to show up at the bank balance.

(d) Finished merchandise are typically esteemed at cost or market value whichever is higher.

(e) Reducing balance strategy for devaluation is followed to have a uniform charge for deterioration and fixes and upkeep together.

(f) Discount at the hour of retirement of a bill is an addition for the drawee.

(g) A withdrawal of money from the business by the owner ought to be charged to benefit and misfortune account as a cost.

(h) Partners can share benefits or misfortunes in their capital proportion, when there is no understanding.

(i) Receipts and Payments Account features absolute pay and consumption.