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 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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The Answer of 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 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.

Indicate Whether Each of the Following Statements Is True or False