Examlex
Which of the following statements is false?
Account
A document detailing all dealings related to a specific element of the accounting formula.
Trial Balance
A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to ensure equality.
Debit And Credit Balance
Accounting terms where debit balances typically exist in asset and expense accounts, and credit balances in liability, equity, and revenue accounts.
Normal Balance
The side of an account (debit or credit) that is expected to have a higher balance, based on accounting rules.
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