Question: Answer the following statements as true or false. 1 . The balance sheet represents the financial position of a company over a period of time.

Answer the following statements as true or false.
1. The balance sheet represents the financial position of a company over a period of time.
2. Net Income is another name for revenue.
3. Profits of a company distributed to its owners are called dividends.
4. The purpose of an audit is to prove the accuracy of an entitys financial statements.
Answer the following statements as true or false.

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