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Question 15 (1 point) Which statement about the Accounting Cycle is FALSE? O Multiple Accounting Cycles take place each year Reports are part of the Accounting Cycle The Accounting Cycle takes place in one fiscal year Lists are part of the Accounting Cycle Question 16 (1 point) Which statement about revenue is true? Every deposit brings revenue into the business Only sales and interest are considered revenue Revenue is earned through business activities A capital contribution is always a business's first source of revenue Question 17 (1 point) Which of the following is an optional field in any given form? O Memo Date O Account Amount Question 18 (1 point) Which of the following is NOT a type of GL account in QuickBooks? O Liabilities O Expenses Assets Accumulated depreciation Question 19 (1 point) When a sale is recorded by a company, which of the following accounts is DEBITED? Revenue Loan Bank Chequing Accounts Payable