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Author Question: Liabilities are increased with debit entries. Indicate whether the statement is true or ... (Read 127 times)

Starlight

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Liabilities are increased with debit entries.
 
  Indicate whether the statement is true or false

Question 2

If the perpetual inventory system is used, an account entitled Cost of Merchandise Sold is included in the general ledger.
 a. True
  b. False
 
   Indicate whether the statement is true or false



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cadimas

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Answer to Question 1

FALSE

Answer to Question 2

True





 

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