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Which one(s) of the following statements are true? (Select all that apply) * 2 points...

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Accounting

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Which one(s) of the following statements are true? (Select all that apply) * 2 points Revenue should be recorded when it is earned. Sole Proprietors have unlimited liability. Trial Balance should be prepared at the end of the period. Assets=Liabilities-Owner's Capital What is GAAP?* 1 point Generally Accepted Accounting Principles Generally Accepted Accounting Profession Generally Accredited Accounting Profession Generally Accredited Accounting Principles Unearned service revenue is a liability but prepaid expense is an expense. * 1 point True False

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