Regarding the relationships of revenues and expenses to assets and liabilities, state whether each of the following statements is true or false.Recording an increase in a revenue account may be associated with a decrease in assets.Recording an increase in a revenue account may be associated with a decrease in liabilities.An increase in Salaries Expense may be accompanied by a decrease in Salaries Payable.Recording a decrease in assets may be associated with an increase in an expense account.A decrease in Supplies will be accompanied by an increase in Supplies Expense.

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The Answer of Regarding the relationships of revenues and expenses to assets and liabilities, state whether each of the following statements is true or false.Recording an increase in a revenue account may be associated with a decrease in assets.Recording an increase in a revenue account may be associated with a decrease in liabilities.An increase in Salaries Expense may be accompanied by a decrease in Salaries Payable.Recording a decrease in assets may be associated with an increase in an expense account.A decrease in Supplies will be accompanied by an increase in Supplies Expense.

Regarding the Relationships of Revenues and Expenses to Assets and Liabilities