Question 14 (2 points) Overstating ending inventory will misstate the financial statements. True False Question 15 (2 points) The sales discount account is a contra account to Accounts Receivable. True False Question 16 (2 points) When merchandise is sold under the perpetual inventory system, sales must be recorded and the cost of merchandise sold must be recorded. True False Question 17 (2 points) Employer's expect that a good college will teach students to learn on their own, think on their own, and self-motivate toward success. e True False Question 18 (2 points) A good college expects students to learn on their own, think on their own, and self- motivate toward success. True False