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Which of the Following Statements About the Debit/credit Framework Is

Question 146

Multiple Choice

Which of the following statements about the debit/credit framework is correct?


A) All asset accounts have a normal debit balance with the exception of cash,which has a normal credit balance.
B) The Common Stock account is increased by debits.
C) When payment is made on a liability such as accounts payable,the liability account is decreased with a debit.
D) The total amount of asset accounts must equal the total amount of liability accounts minus the total amount of stockholders' equity accounts.

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