It is NOT common to find departments as cost centers. $CH6$

$(3)$

A$.$ True

B$.$ False

Which of the following equations best describes the Accounting Equation? THERE MAY BE MORE THAN ONE ANSWER

$CH11(5)$

A$.$ Expenses equal Revenue minus Deductions

B$.$ Assets $=$ Liabilities $+$ Net Worth

C$.$ Net Worth $=$ Assets $-$ Liabilities

D$.$ None of the Above

Any monies earned or lost during a fiscal year increase or decrease the net worth of the organization and its owners?

A$.$ True

$CH11$

$(5)$