Liability Accounts Should Only Be Debited and Never Credited

question 48

True/False

Liability accounts should only be debited and never credited.

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Definitions:

Rank Order

The arrangement or sequencing of items according to their importance, size, value, or any criterion that establishes a hierarchy or priority.

Electronic Brainstorming

A facilitated brainstorming process conducted over electronic platforms to generate ideas from participants in different locations.

Evaluation Apprehension

The fear of being judged by others, which can influence behavior and performance in social and evaluative situations.

Production Blocking

A phenomenon where an individual's contribution or productivity is impeded or halted by the pacing and processes of a group activity.