True or false

1) Publicly traded US companies are able to supplement GAAP figures with additional non-GAAP figures they deem necessary.

2) The cost Principle requires that financial statements be based on today's replacement cost

3) The realization or recognition principle dictates that revenues are recognized upon the delivery of products or services, regardless of when cash is exchanged.

4) The financial accounting standard board (FASB) establishes the rules for general accepted accounting principles (GAAP)

5) Generally accepted accounting principles (GAAP) requires related revenues and expenses to be recognized when cash is exchanged.

6) Generally accepted accounting principles (GAAP) are a set of accounting rules, standard and financial reporting practices utilizes in the US

7) An accrual always occurs when revenue and expenses are recognized, and cash is received.