true or false

20.Overstating beginning inventory will understate cost of goods sold and net income. SALETA HAKIM 13 HAKIM 21.Before an adjusting entry is made to recognize the cost of expired insurance for the period, Prepaid Insurance and Insurance Expense dre both overstated.ED 22.A general journal gives a complete record of each transaction in one place, and shows the debits and credits for each transaction. PULLS