The Records Can Be Sorted in Ascending or Descending Order

question 451

True/False

The records can be sorted in ascending or descending order by up to three fields in the records.

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Definitions:

Decrease Assets

Decrease in assets refers to a reduction in the economic resources controlled by a company, which can result from expenses, asset disposals, or liabilities being paid off.

Accounting Equation

The foundational equation in accounting, represented as Assets = Liabilities + Owner's Equity, illustrating a company's financial position.

Liabilities

Financial obligations or debts a company owes, which are expected to be paid in the future.

Increase Assets

The act of adding value to a company's assets through acquisitions, improvements, or successful business operations, leading to growth in the company's overall resources.