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TRUE FALSE Write T if the statement is true and F if the statement is false 33) Long-term debt is a liability that is payable
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Answer #1

33. TRUE

34. TRUE

35. TRUE

36. FALSE (The revenue is recognised immediately on performing services )

37. TRUE ( The Prepaid insurance is transferred to insurance expenses in proportion to time period)

38. FALSE ( Balance sheet reports financial position as of a particular date)

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