Indicate Whether Each of the Following Statements Is True or False

question 88

Short Answer

Indicate whether each of the following statements is true or false.
_____ a)A journal entry includes at least one debit and one credit entry.
_____ b)The double-entry accounting format always records two separate events simultaneously.
_____ c)The double-entry system requires that total debits equal total credits.
_____ d)When an asset decreases in a double-entry system,an equity account may also decrease.
_____ e)The double entry system ensures complete accuracy in a company's accounting records.

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Definitions:

Rational Emotive Therapy

A form of psychotherapy that helps individuals identify self-defeating thoughts and feelings, challenge the rationality of those feelings, and replace them with healthier, more productive beliefs.

Cognitive

Pertaining to mental processes such as perception, memory, thinking, and problem solving.

Rational-Emotive

Rational-Emotive Behavior Therapy (REBT) is a form of psychotherapy which focuses on resolving emotional and behavioral problems and disturbances by confronting irrational beliefs and changing them.

Albert Ellis

A psychologist and psychotherapist who founded Rational Emotive Behavior Therapy, a form of cognitive-behavioral therapy.