8) An account is said to have a debit balance if:A) the footing of the debits exceeds the footing of the credits. B) there are more entries on the debit side than on the credit side. C) its normal balance is debit without regard to the amounts or number of entries on the debit side.D) the last entry of the accounting period was posted on the debit side.9) The ledger is:A) a group of accounts that records results from business transactions.B) a tool used to ensure that all accounts have normal balances.C) a chronological record of the day's transactions.D) a tool used to ensure that debits equal credits.10) True or false : The credit side is always the left side of the account.11) True or false: A T account is used for demonstration purposes.12) A compound entry is:A) a transaction involving more than one debit and/or credit.B) used to prepare the trial balance. C) to duplicate an entry.D) found on the income statement.13) The rules of debit and credit require increases be posted on the:A) debit side.B) credit side.C) normal balance side.D) None of these answers is correct. 14) The Accounts Payable account is:A) a capital account, and it has a normal debit balance.B) a withdrawal account, and it has a normal credit balance.C) a liability account, and it has a normal debit balance.D) a liability account, and it has a normal credit balance.15) An account that would be increased by a credit is:A) Cash.B) Prepaid Expense. C) Utilities Expense.D) Accounts Payable.16) A debit may signify a(n):A) increase in an Asset account.B) decrease in a Revenue account.C) decrease in a Liability account.D) All of the above17) A credit may signify a(n):A) increase in assets.B) decrease in liabilities.C) increase in revenue.D) increase in withdrawals.