1) A T-account is a way of depicting the basic form of an account. what the computer uses to organize bytes of information. used for accounts that have both a debit and credit balance. a. b. C. a special account used instead of a trial balance. A debit to an asset account indicates a. an error. c. a decrease in the asset. d. an increase in the asset 2) b a credit was made to a liability account. 3. The double-entry system requires that each transaction must be re a. in at least two different accounts. b. in two sets of books. c. in a journal and in a ledger. d. first as a revenue and then as an expense 4) The best interpretation of the word credit is the a. offset side of an account. b increase side of an account. c. right side of an account. 5. Which of the following is not true of the terms debit and credit? a. They can be abbreviated as Dr. and Cr b. They can be interpreted to mean increase and decrease. c. They can be used to describe the balance of an account. They can be interpreted to mean left and right. Which of the following statements is true? 6. a.) Debits increase assets and increase liabilities. Credits decrease assets and decrease liabilities. c. Credits decrease assets and increase liabilities. Debits decrease liabilities and decrease assets. d. Which of the following statements is not true? a Expenses increase owner's equity. 7. Expenses have normal debit balances. c. Expenses decrease owner's equity. d. Expenses are a negative factor in the computation of net income. 8. In the first month of operations, the total of the debit entries to the cash account amounted to $900 and the total of the credit entries to the cash account amounted to $600. The cash account has a(n) a. $600 credit balance. b. $900 debit balance c. $300 debit balance