The fair value principle dictates that companies record assets at their cost. This is true not only at the time the asset is purchased but also over the time the asset is held. * True False Ethical Behavior is a concern for the impact of our actions on society as a whole. It requires that an organization identify issues, analyze options, and make socially responsible decisions. * True False In a general ledger, If the debited amount is greater than the credited amount, the account will have a credit balance, and if the debited amount is less than the credited amount, the account will have a debit balance. * True False The income statement presents the revenues and expenses and resulting net income or net loss for a specific period of time, and the Retained earnings statement summarizes the changes in retained earnings for a specific period of time. * O True O False