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Author Question: Assets are decreased with debit entries. Indicate whether the statement is true or ... (Read 109 times)

TFauchery

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Assets are decreased with debit entries.
 
  Indicate whether the statement is true or false

Question 2

What is the correct sequence for closing the temporary accounts?
 a. revenue accounts, expense accounts, Income Summary, drawing account
   b. expense accounts, revenue accounts, Income Summary, drawing account
   c. revenue accounts, expense accounts, drawing account, Income Summary
   d. drawing account, revenue accounts, expense accounts, Income Summary



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Missbam101

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Answer to Question 1

FALSE

Answer to Question 2

a



TFauchery

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Missbam101

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