please provide reason for each

Section A: True or False Justify (2 marks each-10 marks Total Indicats whether the following Statements are True or False. Be sure to Justify your answer and provide a com, xanple to prove the wrong statements are wrong. 1 1 FIFO is a method of assigning cost that follows periodic system 2. Revenue expenditure is the amount used to purchase more items and privilege from their benefits. 3. Straight line method, double decline and nearest half month are the three methods of calculating depreciation 4. Partnerships may have an employee and employer structure 5. Partnerships are a lasting effort