Please solve it with all requirements there is not log question

1...TRUE/FALSE. Write T if the statement is true and F if the statement is false.

1) Every business, regardless of its size, requires a full-time accountant. )

2) The business form that is equivalent to the personal cash flow statement is the balance sheet.

3) A refund of the purchase price, increased warranty, or partial credit on the next purchase would be listed on the income statement as returns and allowances.

4) Joan has a $100,000 mortgage on her commercial building. This would be carried on her balance sheet as long-term debt.

5) In order to create a statement of cash flows, depreciation must be subtracted from net income.

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.

6) Public corporations require independent audits due to requirements established by the A) Federal Reserve (Fed). B) Securities and Exchange Commission (SEC). C) Small Business Administration (SBA). D) Occupational Safety and Health Administration (OSHA). E) Financial Accounting Standards Board (FASB).

7) The income statement shows gross profit, which is equal to A) gross revenues minus returns and allowances. B) earnings before taxes minus taxes. C) net sales minus cost of goods sold. D) operating income minus operating expenses. E) operating income minus interest.

8) For a manufacturing firm that makes computers, which of the following would NOT be considered part of the cost of goods sold? A) disk drives B) accountants wages C) assembly line wages D) speakers E) memory chips

9) For most businesses, operating expenses include A) salaries for executives and administrative personnel, rent, freight on items to be sold, insurance, utilities, and advertising expenses. B) salaries for executives, administrative personnel, and assembly line workers; rent; insurance; utilities; and advertising expenses. C) salaries for executives and administrative personnel, cost of merchandise to be sold, rent, insurance, utilities, and advertising expenses. D) salaries for executives and administrative personnel, rent, insurance, utilities, and advertising expenses. E) salaries for executives and administrative personnel, raw materials used in manufacturing, rent, insurance, utilities, and advertising expenses.