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Correct Answer : A
Correct Answer : B
Correct Answer : B
4 : Accounts payable are accounts that you expect will be paid to you.
A : true
B : false
Correct Answer : B
5 : Consuming goods and services in the process of generating revenues results in expenses.
A : true
B : false
Correct Answer : A
Correct Answer : B
Correct Answer : A
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Correct Answer : B
2 / 35
B : false
Correct Answer : B
10 : Depending on the account title, the right side of the account is referred to as the credit side.
A : true
B : false
Correct Answer : B
Correct Answer : B
12 : An account in its simplest form has three parts to it: a title, an increase side, and a
decrease side.
A : true
B : false
Correct Answer : A
Correct Answer : A
14 : The right-hand side of a T account is known as a debit and the left-hand side is known as a
credit.
A : true
B : false
Correct Answer : B
Correct Answer : A
Correct Answer : B
Correct Answer : B
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CHAPTER I.
DISCOVERIES.