True or false ) " Just answer true or false without the reason please "

1- The financial statements are prepared on an accrual basis

2- Income statement aims to determine net profit or loss for a specific period of time

3- The cost of licensing and feasibility studies of the project is not one of the items of incorporation expenses

4- One of the components of the companys equity is retained earnings

5- If the revenue resulting from adding a products production will cover differential costs, we can accept the decision to produce that product

6- One of the users of the financial statements is management and shareholders

7- The fiscal year usually ends on 31 December of each year

8- The breakeven point is the volume of sales in which total revenue is greater than total costs of production.

9- When preparing the financial statements, the administration must make an evaluation for the facilitys ability to continue

10- When calculating the cost of property and equipment for the project, installation, shipping and customs costs, if any, must be taken into account