True / False

13. Discontinued operations are reported net of tax in the income statement.

14.The double declining balance method of depreciation is an accelerated depreciation method

15. Gross profit is reported on both the multiple-step and the single-step income statement.

16. Revenues and gains increase both net income and owners equity.

17.In a balance sheet, long-term assets are usually listed before current assets

18. Making of a loan is reported as an investing activity in the statement of cash flows.

19. A company needs to report per share amounts for discontinued operations (if any) and net income