True or False Questions Assets are listed in order of decreasing liquidity on the balance sheet. True or False A journal entry to record receiving cash for the sale of farm products includes a debit to the Cash account. True or False Accounts Payable accounts are increased with a debit. True or False Under the accrual basis of accounting, revenues are reported in the accounting period when the service or goods have been delivered. True or False The income statement is a summary of cash payments and what they were used for. True or False