All financial statements must be prepared using accrual basis.Group of answer choicesTrueFalse

The statement of cash flows reports business activities on an accrual basis.Group startsTrue or False

The Financial Responsibility Statement must be completed every semester before a student can schedule for classes.Group of answer choicesTrueFalse

The key characteristic that determines when consolidated financial statements should be prepared is:

When making an interview request by telephone, avoid using prepared scripts or notes.Group of answer choicesTrueFalse

Accrual of expenses will increase the expense element and will correspondingly increase the liabilityGroup of answer choicesTrueFalse