Acc true/ false help?

1. The Sarbanes-Oxley Act requires that financial statements of all

public companies report on management's conclusions about the

effectiveness of the company's internal control procedures.

T/F

2.Internal control is enhanced by separating the control of a

transaction from the record-keeping function.

TF

3. A voucher is a form on which is recorded pertinent data about a

liability and the particulars of its payment

1. An intangible asset is one that has a physical existence.

T/F

2. When minor errors occur in the estimates used in the determination

of depreciation, the amounts recorded for depreciation expense in

the past should be corrected.

T/F

3. When a property, plant, and equipment asset is sold for cash, any

gain or loss on the asset sold should be recorded.

T/F

4. Receiving payment prior to delivering goods or services causes a

current liability to be incurred.

T/F

5. The borrower is the one who issues a note payable to a creditor.

T/F

6. In order to be a recorded contingent liability, the liability must be

possible and easily estimated.