Determine whether the following statement is true or false.

$(1)$ Accounting communicates financial information about a business enterprise to both internal

and external users. $($True $/$ False$)$

$(2)$ The process of reducing the differences between Generally Accepted Accounting Principles

and International Financial Reporting Standards is known as convergence. $($True $/$ False$)$

$(3)$ Share capital is the total amount paid in by shareholders for shares purchased. $($True $/$ False$)$

$(4)$ Providing services for cash increases assets and equity. $($True $/$ False$)$

$(5)$ The primary purpose of the statement of cash flows is to provide information about the cash

receipts and cash payments of a company during a period. $($True $/$ False$)$

$(6)$ The ending retained earnings balance is reported on the statement of financial position. $($True

$/$ False$)$

$(7)$ The purchase of store equipment for cash reduces the equity by an equal amount. $($True $/$ False$)$

$(8)$ Debit and credit can be interpreted to mean increase and decrease, respectively. $($True $/$ False$)$

$(9)$ The dividends account is a subdivision of the retained earnings account and appears as an

expense on the income statement. $($True $/$ False$)$

$(10)$ All accounts reported in the statement of financial position are increased by using debits on the

left$-$hand side of the T$-$account. $($True $/$ False$)$

$(11)$ The general ledger contains all the accounts that are reported on the statement of financial

position, whereas the general journal contains all the accounts that are reported on the income

statement. $($True $/$ False$)$

$(12)$ The normal balance of all accounts is a debit. $($True $/$ False$)$

$(13)$ When debits do not equal credits on the trial balance, this indicates that the company has net

income that needs to be transferred to the retained earnings account. $($True $/$ False$)$

$(14)$ A trial balance does not prove that all transactions have been recorded or that the ledger is

correct. $($True $/$ False$)$

$(15)$ The trial balance will not balance when incorrect account titles are used in journalizing or

posting. $($True $/$ False$)$

I$\text{'}$d appreciate it if you could also explain what's wrong.