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9. Answer the following statements as True or False and then select the correct corresponding...

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Accounting

9. Answer the following statements as True or False and then select the correct corresponding multiple choice answer.

_____ Only events that can be measured in a monetary unit will be reflected in the journal entries.

_____ Every transaction affects both the income statement and the balance sheet.

_____ The journal entry to record cash collected from a customer in advance would include a credit to a liability account.

A. True, True, True

B. True, True, False

C. True, False, True

D. False, True, True

E. False, False, False

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