For each transaction,there must be at least one debit amount and one credit amount.
Correct Answer:
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Q17: Deferred Revenue is a liability account.
Q24: Receiving cash in advance from customers increases
Q25: Expenses have the effect of decreasing retained
Q27: Revenue accounts increase with a debit and
Q28: Liability accounts increase with a debit and
Q30: The Dividends account increases with a credit
Q31: A debit to an account balance always
Q32: Expense accounts increase with a debit and
Q33: Liability accounts increase with a credit and
Q34: The general ledger includes all accounts used
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