The Debit Side of an Account

question 136

Multiple Choice

The debit side of an account

• A) depends on whether the account is an asset, liability, or stockholders' equity
• B) can be either side of the account depending on how the accountant set up the system
• C) is the right side of the account
• D) is the left side of the account

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Definitions:

Federal Question Jurisdiction

This refers to the authority of United States federal courts to hear cases that involve federal laws, the U.S. Constitution, or treaties.

Original Jurisdiction

The power to decide a case as a trial court.

Diversity Jurisdiction

A principle in federal jurisdiction in the United States allowing federal courts to hear lawsuits involving parties from different states or countries where the matter in controversy exceeds a statutory amount.

Exclusive Jurisdiction

The sole authority of a particular court or legal body to hear and decide on cases within a specific area of law or geographic location.