A T-Account Is a Device or Convention for Organizing and Accumulating

question 90

Multiple Choice

A T-account is a device or convention for organizing and accumulating the accounting entries of transactions that affect an individual account. Which of the following is/are true?

• A)Increases in assets appear on the left side, and decreases in assets appear on the right side of T-accounts.
• B)Increases in liabilities appear on the right side, and decreases in liabilities appear on the left side of T-accounts.
• C)Increases in shareholders' equity appear on the right side, and decreases in shareholders' equity appear on the left side of T-accounts
• D)all of the above are true
• E)none of the above are true

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Definitions:

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Court orders requiring an individual or entity to do or cease doing a specific action, often used to prevent irreparable harm.

LMRA

The Labor Management Relations Act, also known as the Taft-Hartley Act, which regulates labor-management relations in the United States.

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