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Which one of the following statements is FALSE?
Asset Accounts
Accounts on a company's balance sheet that represent the resources owned by the company which have economic value and can provide future benefits.
Debits
Entries on the left side of an accounting ledger, representing increases in assets or expenses and decreases in liabilities or equity.
Equipment
Tangible property used in the operations of a business, often contributing to the production of goods and services, and generally considered a long-term asset.
Cash
Currency and coins, along with bank balances, checks, and money orders, that are readily available for use.
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