A Transaction That Decreases an Asset Account and Increases a Liability

question 125

True/False

A transaction that decreases an asset account and increases a liability account must also affect one or more other accounts.

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Definitions:

One-inch Margins

One-inch margins refer to the standard formatting guideline for documents where all edges of the document are set to be one inch away from the paper's borders.

Notations

Information found at the end of a business letter indicating enclosures included with the letter and the names of other people who will be receiving copies of the letter.

Enclosures

Materials that are included in the same envelope as the primary letter.

Mixed Punctuation

In writing and typing, the use of both open (starting with an open mark, like a quotation) and closed punctuation styles, involving a mix of necessary punctuation marks.