Breach of Contract Cases Usually Are a Result of Careless

question 24

True/False

Breach of contract cases usually are a result of careless or negligent performance of the professional service.

---

Definitions:

Debit

An accounting entry that increases assets or expenses or decreases liabilities, equity, or revenue.

Credit

The granting of a loan and the creation of debt; any form of deferred payment.

Normal Balance

The typical side (debit or credit) on which an account increases, depending on the type of account.

Debit Balance

A balance in a financial account where the total debits exceed the total credits, common in asset and expense accounts.