24. The practice of using the lower of cost and net realizable value to evaluate inventory reflects which of the following accounting principles? a. Matching principle. b. Revenue recognition. Conservatism. d. Materiality. I labilitiedtilities V 25. Debits and Credits have different effects on different types of accounts. For the list below, indicate whether the effect is increase (Up) or a decrease (Down). a. A debit in Equipment Assets b. A credit in Utilities Payable c. A debit in Services Income A Assets d. A debit in Taxes Payable e. A credit in Salaries Payable f. A debit in Cash g. A debit in Accounts Payable h. A credit in Rent liabilities r liabilities 1 assets 1 liabilities 1 Assets C121