Increases in Assets Are _______________ to Asset Accounts, Increases in Liabilities

question 29

Essay

Increases in assets are _______________ to asset accounts, increases in liabilities are _______________ to liability accounts.

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Definitions:

Entrepreneurs

Entrepreneurs are individuals who start and manage their own businesses, often taking on financial risks in the hope of profit.

Opportunities

Circumstances that present chances for progress, growth, or advancement in personal or professional contexts.

Franchise

A business model that allows individuals or entities to operate a branch of a larger company, using its brand, systems, and support in exchange for fees or royalties.

Entirely New Firm

A start-up or business entity that has been freshly established, having no prior existence.