Question 1 (1 point) Saved For long term assets, an estimate of the "value" used up in any one year shows up as an expense on the Income Statement . this expense is called overhead overhead cost of goods sold depreciation a.k.a. amortization Question 2 (1 point) Saved True or false....................."Income" received is always the same as "cash" received as per the accrual concept. True False Question 3 (1 point) Saved If RE at the beginning of the year is $400, Net Income is $400 for the year. Dividends paid out are $800 for the year, the RE at the end of the year is $1600 $400 $0