An Increase or Decrease in Any Asset,liability,owner's Equity,revenue,or Expense Is

question 73

True/False

An increase or decrease in any asset,liability,owner's equity,revenue,or expense is always accompanied by an offsetting change within the basic accounting elements.

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Definitions:

Population

The total number of inhabitants of a particular town, area, or country.

Annual Growth

The yearly percentage increase in the size or value of an economic variable, such as gross domestic product or a company's revenue.

Redemption Value

The amount due to an investor once a bond or other debt instrument reaches its maturity date.

CSB

Canadian Savings Bonds, a secure savings product issued and guaranteed by the Government of Canada.