Expenses have the effect of decreasing retained earnings.
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Q17: Deferred Revenue is a liability account.
Q20: If a transaction causes total assets of
Q21: A credit to an account balance always
Q22: For each transaction,the total debit amounts must
Q23: Providing services to customers is recorded with
Q24: Receiving cash in advance from customers increases
Q27: Revenue accounts increase with a debit and
Q28: Liability accounts increase with a debit and
Q29: For each transaction,there must be at least
Q30: The Dividends account increases with a credit
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