D Question 11 2 pts Which statement below is a true statement? An increase in Sales Discounts results in an increase in stockholders equity. Sales Discount and Sales Returns & Allowances are contra-revenue accounts. Sales Discounts and Sales Returns & Allowances accounts are shown as operating expenses on a multiple step income statement O An increase in Cost of Goods Sold results in an increase in stockholders' equity, U Question 12 2 pts Verona Company uses a periodic inventory system. During a period of deflation, which cost flow assumption should the company select to minimize its income taxes? OLIFO O Average Cost All cost flow assumptions provide equal tax benents during a period of deflation FIFO 2 L Which of the following result in a subtraction from the cash balance per books on a bank reconciliation? Bank fee Collection of a notes receivable Bank error Earned interest D Question 14 2 pts Doolittle Company prepares a bank reconciliation. How should the company state outstanding checks on its bank reconciliation? + Addition to the unadjusted cash balance per bank records Subtraction from the unadjusted cash balance per bank records Addition to the adjusted cash balance per books Subtraction from the adjusted cash balance per books