True or False

3. A ledger is a type of account. 4. Goods sold on credit to customers are called accounts payable. 5. As prepaid assets are used up, the costs of the assets become expenses. True 6. Withdrawals are a type of transaction that affects equity. I 7. A building is an example of an asset that does not provide any benefit to 8. To make it easier for the bookkeeper, the cost of land is separated from th located on the land. 3. A ledger is a type of account. 4. Goods sold on credit to customers are called accounts payable. 5. As prepaid assets are used up, the costs of the assets become expenses. True 6. Withdrawals are a type of transaction that affects equity. I 7. A building is an example of an asset that does not provide any benefit to 8. To make it easier for the bookkeeper, the cost of land is separated from th located on the land