Multiple Choice
A T-account is a device or convention for organizing and accumulating the accounting entries of transactions that affect an individual account. Which of the following is/are true?
A) Increases in assets appear on the left side, and decreases in assets appear on the right side of T-accounts.
B) Increases in liabilities appear on the right side, and decreases in liabilities appear on the left side of T-accounts.
C) Increases in shareholders' equity appear on the right side, and decreases in shareholders' equity appear on the left side of T-accounts.
D) All of the above are true.
E) None of the above are true.
Correct Answer:
Verified
Correct Answer:
Verified
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