Critical Thinking Is an Automatic Thinking Process

question 8

True/False

Critical thinking is an automatic thinking process.

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Definitions:

Debits

In accounting, an entry made on the left side of an account, increasing asset or expense accounts, or decreasing liability, equity, or revenue accounts.

Credits

Entries that increase liabilities or equity on the balance sheet or reduce assets.

Ledger

A book or digital record holding all the accounts of a company, showing the changes made to each account and the current balance.

Journal

A chronological record of all business transactions, used to transfer information to the general ledger.