Assets Are Increased with Debits and Decreased with Credits

question 7

True/False

Assets are increased with debits and decreased with credits.

---

Definitions:

CHRC

Refers to the Canadian Human Rights Commission, an agency that administers the Canadian Human Rights Act, although without a context, the abbreviation could have other meanings.

Pay Equity

A principle ensuring that employees receive equal pay for work of equal value, regardless of gender, ethnicity, or other non-work-related factors.

Pay Equality

The principle that individuals doing the same job or work of equal value should receive the same compensation regardless of gender, race, or other non-relevant factors.

Canadian Human Rights Act

A statute of Canada that prohibits discrimination on the basis of race, color, religion, sex, age, and other grounds.