PLEASE HIGH LIGHT TRUE OR FALSE FOR EACH QUESTION

Choose the correct answer

Question 15 (1 point)

Transactions are recorded day by day in the general journal.

Question 15 options:

	True
	False

Question 16 (1 point)

Invoices generated need to be delivered in-person to customers.

Question 16 options:

	True
	False

Question 17 (1 point)

Revenue is the merchandise that the business will sell.

Question 17 options:

	True
	False

Question 18 (1 point)

Equity is the difference between assets and liabilities.

Question 18 options:

	True
	False

Question 19 (1 point)

Accounts receivables had to be paid in the same day of generating the invoice.

Question 19 options:

	True
	False

Question 20 (1 point)

Payment terms specify the agreed-upon time frame where the client has to pay the invoice.

Question 20 options:

	True
	False

Question 21 (1 point)

Liabilities are debts owing to the business

Question 21 options:

	True
	False

Question 22 (1 point)

A corporation is a business owned by shareholders.

Question 22 options:

	True
	False

Question 23 (1 point)

The petty cash fund should have enough cash to pay for small expenditures for about one month.

Question 23 options:

	True
	False

Question 24 (1 point)

We analyze a transaction, so we understand the company's business.

Question 24 options:

	True
	False

Question 25 (1 point)

The petty cash sheet is like a journal, capturing essential details about each expenditure.

Question 25 options:

	True
	False

Question 26 (1 point)

An income statement is a statement of revenues and operating costs

Question 26 options:

	True
	False

Question 27 (1 point)

Accounts receivable are money owed to a business by its clients and appear on the business balance sheet as a current asset.

Question 27 options:

	True
	False

Question 28 (1 point)

Compound journal entries do not have to balance.

Question 28 options:

	True
	False

Question 29 (1 point)

Accounts payable does not include internal payment or travel expenses.

Question 29 options:

	True
	False