True/False Indicate whether the statement is true or false. 1. Expenses are expired costs of doing business. 2. The chart of accounts, the journal, and the ledger are essential parts of the accounting system. 3. The role of accounting is to provide many different users with financial information to make economic decisions. 4. Journalizing is the process of entering amounts in the ledger. 5. Revenue accounts are increased by credits 6. The matching concept requires expenses be recorded in the same period that the related revenue is recorded 7. Adjusting entries affect only expense and asset accounts. 8. On the income statement, miscellaneous expenses are usually presented as the last item without regard to the dollar amount. 9. Office Equipment is an example of a current asset account