A Transaction That Decreases an Asset Account and Increases a Liability

question 98

True/False

A transaction that decreases an asset account and increases a liability account must also affect another account.

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Definitions:

If Statement

A conditional programming construct used to perform different actions based on whether a specified condition is true or false.

Else If

A conditional statement in programming that specifies a new condition to test if the previous condition(s) is false.

Else

In programming, a conditional statement that executes a block of code if the preceding 'if' condition is not true.

SaveRecord

In software, particularly databases, an action or command to commit the current record's data to the database.