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ion should be recorded as an asset an expense. Under the or IRLEQEREALSE. y report enough information for outsiders to make wise decisions should I) A treat it as an TRUE OR ple they should choose FALSE 2) The materialiry concept requires entity to safeguard assets, records TRUE OR FALSE the related measures adopted by an reliable accounting me and Internal control is the organizational plan and efficiency, and ensure employees to follow company y, promote operational fraud. TRUE OR FALSE rison for securities 4) Under the Sarbanes-Oxley Act, and the top managers. TRUE OR FALSE of a business, starting with the owner company is the "tone at the top are following TRUE OR FALSE assets and ensure that employees 6) External auditors monitor company controls to safeguard TRUE OR FALSE 7) Mandatory vacations and job rotation improve internal control. TRUE FALSE and not be cost-effective. OR complex, it may harm efficiency 8) If a system of internal cont is too strict or TRUE OR FALSE The two major types of receivables are accounts receivable and notes receivable. 9) amounts. TRUE OR FALSE estimating uncollectible 0) The allowance method is a method of recording collection losses by RUE OR The direct write-offmethod conforms to the matching principle better than the allowance method. OR FALSE A company uses the direct write-off method to account for uncollectible receivables. Uncollectible ac stimated as a percentage of sales. E OR FALSE rcher Company and Zorro Company both have significant amounts of accounts receivable at any t ience uncollectible accounts from time to time. Archer uses the percent-of-sales method to accoun and uses the write-off method. Archer Company's method complies with GAAP direct ng of revenues and expenses than does Company's method. OR FALSE maturity value ofa note is the sum of the principal plus interest due at maturity