Identify the false statement Select one O A Og u nes entity as a coreon helps that the business owners from the bes of the corporation businesses a n d assow Proprietor generally have little or no required financial reporting to other than to the CALC ed ability company The Sec r es greater of reporting for partnerships than for sole proprio clyded Corporation cerereporting ements than the propean por parten a The Canon Corporation t ing how much en copers to the compon October 15 for $40.000 Canon deliver the open toe on October is recognised in November 16000 and grees to pay th e on e and the Select one A 50 0 516.000 124.000 D. 540.000 A improved cash flow analys B. forecasting and ease of interpretation and compare anys t um preparation Question 10 Not yet An increase in an asset may be offset by Select one: O A a corresponding decrease in a liability Pag question B. a decrease in some other asset account C. a corresponding decrease in owner equity. O O D . an increase in another asset account E. insufficient information provided to give a reasonable aruwer Question 11 Accumulated depreciation is a/an Points out of 50 Flag Question Select one: A expense account B.contra-liability account. C. contra-asset account Downers equity account E. current asset account 12 If a firm capitalizes for depreciation an item that should have been fully e riod that it was purchased, then Not yes Paguemon Select one A. Expenses will be higher in that period B. Expenses will be lower in that period C. Profits will be higher in the following period D. Profits will be lower in that period E No conclusion can be drawn without further information