true/false?

9. Generally accepted accounting principles are the basic assumptions, concepts, and guidelines for preparing financial statements. 19.Statement of Owner's Equity reports the assets, liabilities, and owner's equity at a specific date (not a period of time). 20.Net income occurs when assets exceeds liabilities. 21.Balance sheet lists assets, liabilities, and Owner's equity. 22. The Balance Sheet provides information to internal decision makers. 23.Balance sheet summarizes the changes in owner's equity for a specific period of time. 24.Net loss occurs when expenses exceeds revenues. 25.Financial statements are business documents used to communicate information to external decision makers