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State Whether Each of the Following Statements Is True or False.Explain

Question 22

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State whether each of the following statements is true or false.Explain the true statements and discuss why the false statements are false.

Premises:
As expenses increase,the equity of an entity will decrease.
Posting is the process of copying information from ledgers to journals.
A debit always results in increasing the balance in an account.
Responses:
False
True

Correct Answer:

As expenses increase,the equity of an entity will decrease.
Posting is the process of copying information from ledgers to journals.
A debit always results in increasing the balance in an account.
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