True or False.

$1.$The evidence accumulated for cash balances depends heavily on the results of tests performed in the other major transaction cycles.

$2.$ A growing number of organizations, especially larger organizations, use pre$-$approved V$-$cards to make miscellaneous purchases instead of maintaining a petty cash fund.

$3.$ Consistent with financial accounting standards, equity investments are normally recorded at cost until they are disposed of in the future.

$4.$ Financial instruments, which include investments in debt and equity securities as well as derivative instruments, vary in significance across audit clients.