TRUE/FALSE. Write ' T ' if the statement is true and ' F ' if the statement is false. Each question carries 2 marks. 1) A balance sheet reports the company's financial position over a period of time. 2) Accounts receivable is increased with a credit. 3) The revenue principle states that revenue should be recorded in the same period as the cash is received. 4) In accrual adjustments, an adjustment is made for payment of an item in advance of use. 5) A budget is a financial plan that helps coordinate business activities. 6) One of the main elements of the fraud triangle is rationalization. 7) One of the most common types of fraud that impacts the financial statements is the misappropriation of assets 8) Fraudulent financial reporting is committed by company managers. 9) A budget is a financial plan that helps coordinate business activities. 10) The bank reconciliation can be used to control cash