Louisiana State University, Shreveport ACCT 701 Assessment 1 1)Who uses accounting information? A Corporation-______________ When a business purchases a truck with cash on hand, the transaction is reflected on the: Which of the following statements is False?   The basic accounting equation is:   Of the five primary accounting concepts, which one assumes an indefinite future? The ending balance in retained earnings is shown in the : Which of the following is not correct form of the accounting equation? When the stockholders invest cash in the business, what is the effect? When services are performed on account, what is the accounting effect for the company that provides the services?