all the multiple choice please

1. Current assets include all of the following: cash, inventory, equipment, supplies, and accounts receivable. a. True b. False 2. The current ratio is useful in determining a company's ability to pay obligations when they become due. a. True b. False 3. The going-concern assumption infers that a company will continue to operate for at least the next year. a. True b. False 4. According to the historical cost principle, assets are measured at the exchange price at the time the activity occurs a. True b. False 5. A trial balance is the listing of each active account and its corresponding debit or credit balance at a particular point in time. a. True b. False 6. It is necessary to account for company transactions separately from personal transactions of the owner only if the company has more than one shareholder. a. True b. False 7. Matching requires expenses be recorded and reported in the same period as the revenue that it helped to generate. a. True b. False 8. Accrued revenue is recognized when cash is received. a. True b. False 9. When an expense is incurred prior to the payment of cash for that expense, an adjusting journal entry that increases an expense account and decreases a liability is prepared. a. True b. False 10. After closing entries have been posted, revenue and expense accounts should have zero balances a. True b. False 11. "Tone at the top" refers to an emphasis by management through its statements and actions that ethical behaviour, honesty, and integrity are values supported by the organization a. True b. False 12. A properly designed internal control system helps ensure the reliability of the financial statements a.True b. False