QUESTION 4 True/Faise: Two rules must be followed in order to successfully record transactions under the scorul benis of accounting? True False QUESTION 5 The basis of accounting is an accounting method which aligns the flow of resources and the revenues those resources helped to generate. Accrual accounting records revenues when eamed and expenses when resources are used, regardless of the flow of cash in or out of the organization QUESTION 6 The purpose of a is to record transactions in chronological order. The purpose of a account Transactions are first recorded in the and then summarized in the then used to prepare the organization's financial statements is to provide a record of the balance in each The information from the