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Unformatted text preview: Question 1. 1/ 1 9‘5 Accounts are records of increases and decreases in individual financial statement items. . True False Question 2 1/ 1 9‘5 The increase side of all accounts is the normal balance. ~ True False Question 3 1/ 1 9‘5 Liability accounts are increased by debits. True ~ False Question 4 1/ 1 pts The normal balance ofa capital account is a debit. True ~ False Question 5 1/ 1 pts The normal balance of the drawing account is a debit. False ...
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  • Summer '10
  • MARTINEZ
  • Double-entry bookkeeping system, normal balance, individual financial statement

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