Section A: True or False Justify $(2$ marks each$-10$ marks$)$Indicate whether the following Statements are True or False. Be Sure to Justify your answer and provide a counter example to prove the wrong statements are wrong$\mathrm{.}1.$ FIFO is a method of assigning cost that follows periodic system$2.$ Revenue expenditure is the amount used to purchase repair items$3.$ Straight line method, half year convention and nearest whole month are the three methods ofcalculating depreciation$4.$ All Partnerships do not have employee and employer structure$5.$ corporations do not last too long before they break.