Question 4 and 5 only

3. True or False: GAAP provides business managers with all the necessary and sufficient information to conduct their business going forward. Why? It is mentioned in the introduction section of the book that in order to analyze the business going forward financial analysis process is needed. 4. True or False: A mere $100 will never be an issue of materiality. Why? 5. What is the ending balance in the accounts listed below given the following transactions: a. RWV secured $250,000 from issuing common stock b. RWV borrows $750,000 in the form of a note payable. c. Rwy purchases land for $200,000 d. Rwy builds a building for $700,000 e. RWV received $90,000 cash by providing services to residents f. RWV paid $77,000 cash for operating expenses g. RWV deprecated the building by $70,000 Assets Liabilities + Stockholder's Equity Cash + Land + Building = Notes Payable + Common Stock + Retained Earnings English (US DI DIO A ORO NI W PI G PO PS a D