The simplest, lowest-risk method of getting involved in international business is to form a joint venture with a company in another country

When you reconcile your monthly bank statement, any checks outstanding should be deducted from your book balance

Indicate whether the statement is true or false.

In order to be conservative, accrual accounting requires that expenses be recorded when incurred,

but revenues are recorded only after the cash has been received. Indicate whether the statement is true or false