Tour Cm QUOTITIVUMWOLUCIT.D-u.vuu. W DGTurucu Wen you JUUTIC this form. Not you? Switch account * Required True / False Questions State whether each of the following statements is True or False. 1. GAAP-based financial statements are arranged according to the cash basis of accounting. A) True O B) False 2. The accrual basis of accounting relies on revenue recognition when cash is collected for a given transaction. O A) True o B) False