Under the double-entry accounting system, no more than two accounts can be affected by each transaction. True/False

Operating expenses include interest expense related to a companys financing activities. True/False

Net working capital = Current assets + Current liabilities. True/False

The process of transferring debit and credit entries from the journal to their related general ledger accounts is called posting. True/False

A companys fiscal year cannot coincide with the calendar year. True/False