1.A transaction that causes an increase and an asset may also cause a decrease in another asset, and increase in a liability, or an increase in owners equity.

true or false?

3. The journal is sometimes called the book of original entry because it is the diary of the business and the accountant record which transactions are first reported.

true or false

4. every business transaction is recorded by a debit to a balance sheet account and a credit to an income statement account.

true or false