True or flase questions

12. Revenues, gains, and distributions to owners all increase equity. 13. Comprehensive income includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. 14. The historical cost principle would be of limited usefulness if not for the going concern assumption 15. The economic entity assumption means that economic activity can be identified with a particular legal entity 16. The expense recognition principle states that debits must equal credits in each transaction. 17. Revenues are recognized in the accounting period in which the performance obligation is satisfied IN 18. Supplementary information may include details or amounts that present a different perspective from that adopted in the financial statements C A