Regarding the effects of end-of-period adjustments, state whether each of the following statements is true or false. Recording the usage of supplies involves an increase in liabilities and a decrease in stockholders' equity. The accrual of salaries is considered a claims exchange transaction. Recording services performed on a prepaid contract involves a decrease in liabilities and an increase in assets. End-of-period adjustments often affect cash flows. Failure to record accrued salaries at the end of the year will cause reported net income to be higher than it should have been