Directions: Choose the Best Answer Based on the Information You

question 1

True/False

Directions: Choose the best answer based on the information you read in Chapter 7.
​ The transition on the other hand shows how two topics are similar.

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Definitions:

Dividends Account

An account used in bookkeeping to track dividends declared by a company to be paid out to its shareholders.

Debit

A bookkeeping record that leads to a rise in a company's assets or a fall in its liabilities on the balance sheet.

Debits

Accounting entries that increase an asset or expense account, or decrease a liability or equity account, recorded on the left side of an accounting ledger.

Account Receivable

The amount customers are required to pay a company for products or services received but for which payment has not yet been made.