Question 13 Not yet answered Marked out of 0.50 P Flag question Total purchases are posted in the balance sheet at the end of a year. Select one: True False Question 14 Not yet answered Marked out of 0.50 P Flag question The amount which the proprietor has invested in the business towards the owner is called drawings. Select one: : O True False Question 15 Not yet answered Marked out of 1.00 P Flag question Net income will result during the time period when Select one: a. expenses exceed revenue b. assets exceed liabilities b. c. assets exceed revenues. O d. revenues exceed expenses