Debits Are Increases to Assets and Expenses

question 19

True/False

Debits are increases to assets and expenses

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Definitions:

Portable Benefits

Benefits, such as retirement plans or health insurance, that can be retained by employees even if they change jobs.

Long-term Care Insurance

A type of insurance designed to cover costs associated with long-term care services, such as in-home care, assisted living, or nursing home care.

401(k) Plan

A retirement savings plan sponsored by an employer that allows workers to save and invest a piece of their paycheck before taxes are taken out.

Paid Leave

Time off from work that is compensated, including but not limited to vacation, sick leave, and parental leave.