Question 2

a.) It's safe to say that employers don't pay payroll taxes, employees do.(True/False)

b.)GAAP requires revenue and expenses to be recorded on a cash basis,(True/False)

c.) All adjusting entries include both income statement and balance sheet accounts,(True/False)

d.) Common size financial statements would report plant, property, and equipment as a % of liabilties plus capital.(True/False)

e.) Financial analysts "measure" profitability and financial postion.(True/False)

f.) If a corporation with $1 in sales turns over its assets 5 times, it would $5 million in assets.(True/False)

g.) The more days sales in receivables the longer the average collection period.(True/False)