A Deposition Is Sworn Testimony by a Party to a Lawsuit

question 2

True/False

A deposition is sworn testimony by a party to a lawsuit or any witness.

---

Definitions:

Normal Balance

The side (debit or credit) of an account that is increased, indicating the typical balance of that account in accordance with the double-entry bookkeeping system.

Financial Statement

Summarized reports that convey the financial status, performance, and cash flows of a business or individual over a specific period.

Permanent/Temporary

Categories that describe the expected tenure or duration of a job, position, or assignment, denoting whether it is expected to last indefinitely (permanent) or for a limited time period (temporary).

Normal Balance

The typical side (debit or credit) on which an account increases, depending on its type (asset, liability, equity, revenue, or expense).