For Each of the Following Accounts, Indicate Whether a Debit

question 163

Essay

For each of the following accounts, indicate whether a debit or credit is used to increase (+) or decrease (-) the balance of the account. $$\begin{array} { | l l l | } \hline \text { Account } & \text { Debit } & \text { Credit } \\\text { (a) Common Stock } & \\\text { (b) Liability } & \\\text { (c) Asset } & \\\text { (d) Revenue } & \\\text { (e) Dividend } & \\\text { (f) Retained Earnings } \\\text { (g) Expense } & \\\hline\end{array}$$

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Definitions:

False Beliefs

Convictions or assumptions held by individuals that are contrary to known facts or evidence.

Not Egocentric

The ability to understand and be concerned with the perspectives and needs of others, rather than being focused solely on oneself.

Child

A young human being below the age of puberty or below the legal age of majority.

Theory Of Mind

The ability to attribute mental states—beliefs, intents, desires, emotions, knowledge—to oneself and others, understanding that others have beliefs, desires, and intentions that are different from one's own.