Examlex
Which of the following statements about cliques is FALSE?
Credit Entry
An accounting entry that increases a liability or equity account or decreases an asset or expense account.
Service Revenue
Income earned by a company for services provided to customers or clients.
Credit Side
Refers to the right side of a ledger account and is where increases in liabilities, equity, and revenue are recorded.
Total Liabilities
The total amount of obligations owed by a company to third parties, including loans, accounts payable, mortgages, and other debts.
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