The Statement of Changes in Equity reports on changes in the financial position of an enterprise on a certain date. Select one: True False Financial performance of an enterprise for a particular period is reported using the cash budgets. Select one: True False For every debit entry there must be a credit entry. A. Principle of entity B. Principle of double entry C. Principle of historical cost D. Principle of materiality Purchase stationery on credit from suppliers R850. In the Accounting Equation, equity will decrease and liabilities will increase. Select one: True False Identify the most relevant transaction for this entry: A. Bought inventory on credit R100 000 . B. Sold inventory on credit R100 000 . C. Sold inventory on credit R100 000 . D. Cash paid to creditors R100 000 . A transaction such as purchase of a motorcycle is the first step in the Accounting cycle. Select one: True False Labour unions have no interest in the financial statements of private company. Select one: True False Identify the most relevant transaction for this entry: A. R7 000000 cash paid for property. B. The owner contributed a capital of R7 000000 to his business. C. Vehicles and Equipment were purchased on credit R7 000000. D. Cash purchases of inventory R7 000000 . Mortgage Bond obtained/secured from Lee Bank will be recorded as a cash outflow under financing activities in the Statement of Cash Flows. Select one: True False Capital refers the investments contributed by the owners of the business plus retained/undistributed profits. Select one: True False