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11. Common stock and additional-paid in capital represent the financing sources from shareholders… 1 answer below » 11. Common stock and additional-paid in capital represent the financing sources from shareholders. True False 12. Financial reporting focuses on reporting the impact of transactions on an entity’s financial position. True False 13. Unearned revenue is reported on the balance sheet as a liability and represents amounts paid to an entity in exchange for future services and/or goods. True False 14. A transaction may be an exchange of assets or services by one business for assets, services, or promises to pay from a different business. True False 15. The dual View complete question » 11. Common stock and additional-paid in capital represent the financing sources from shareholders. True False 12. Financial reporting focuses on reporting the impact of transactions on an entity’s financial position. True False 13. Unearned revenue is reported on the balance sheet as a liability and represents amounts paid to an entity in exchange for future services and/or goods. True False 14. A transaction may be an exchange of assets or services by one business for assets, services, or promises to pay from a different business. True False 15. The dual effects concept implies that every transaction has at least two effects on the accounting equation. True False View less » Sep 30 2015 05:01 PM
