Question: 1. Journalizing always eliminates fraudulent activity. True False 2. The cost principle is the basis for entering the purchase price into the accounting records. True

1. Journalizing always eliminates fraudulent activity.

True

False

2. The cost principle is the basis for entering the purchase price into the accounting records.

True

False

3. Posting a part of a transaction to the wrong account will cause the trial balance totals to be unequal.

True

False

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