Expense Accounts Have Debit Balances Because They Decrease Net Income,retained

question 68

True/False

Expense accounts have debit balances because they decrease net income,retained earnings,and stockholders' equity.

---

Definitions:

Industrial Uses

The utilization of products or materials within industrial processes or in the production of goods, often implying commercial or large-scale applications.

Capital Investment

Funds spent by a firm to acquire or upgrade physical assets such as property, industrial buildings, or equipment to increase its value or productivity.

Soil Reclamation

The process of improving damaged soil to restore its productive capacity, often involving the removal of pollutants or the addition of soil amendments.

Water Shed Reclamation

The process of recovering, treating, and reusing water from a watershed area for beneficial purposes, often related to environmental management.