A Debit to an Account Balance Always Results in the Balance

question 80

True/False

A debit to an account balance always results in the balance increasing.A debit increases assets,dividends,and expenses,but decreases liabilities,stockholders' equity,and revenues.

---

Definitions:

Residual Value

The estimated remaining value of an asset at the end of its useful life.

Salvage Value

The anticipated end-of-life value of an asset once it has finished its useful period.

Plant Asset

Long-term tangible assets that are used in the operations of a business and are not intended for sale.

Book Value

The value of an asset as recorded on a company's balance sheet, calculated as the cost of an asset minus accumulated depreciation.