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Indicate Whether Each of the Following Statements Is True or False

Question 158

True/False

Indicate whether each of the following statements is true or false.
a)________ A debit may increase a liability.b)________ Closing a revenue account includes a debit to retained earnings.c)________ A debit may decrease stockholders' equity.d)________ A credit may decrease an asset.e)________ Debits to the Cash account are reported as cash outflows on the statement of cash flows.

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