QUESTION 22 Deciding whether to expense the purchase of small calculators over their estimated useful lives of five years is an example of O going concern O periodicity O historical cost O materiality QUESTION 23 Adjusting entries to recognize unearned revenues (previously received in cash) that have now been earned: O decrease liabilities and increase revenues O decrease assets and increase revenues. increase liabilities and increase revenues. O increase assets and increase revenues. QUESTION 24 Entity O signed a five-month note payable in the amount of $40,000 on November 1. The note requires interest at an annual rate of 12%. The amount of interest expense Entity O must recognize at December 31 is: O $1,920 O $4,800. O $400 O $800