Choice Questions KN, SKI, SK2: 10 marts - 10 x 1 marka A Multiple Cho S - Choose the correct answer n consists of I attie, a debit hal a debit side, and a credit side debit balance, and a credit balance title, a left side, and a debit balance title, a right side, and a debit balance. 2. A journal provides the balances for each account. b. a chronological record of transactions information about a transaction in several different places d. a list of all accounts used in the business. 3. The procedure of transferring journal entries to the ledger accounts is called a. journalizing. b. analyzing. c. reporting d. posting 4. Debits a decrease liabilities and increase assets. b. decrease both assets and liabilities. c. increase both assets and liabilities. d. increase liabilities and decrease assets. 5. Unearned revenues are a revenue for services performed and recorded as liabilities before they are received b. revenue for services performed but not yet received in cash or recorded. c. cash received and a liability recorded before services are performed. d. revenue for services performed and already received in cash and recorded. the basic accounting equation to stay in balance, cach transaction recorded must always affect exactly two accounts. b. affect the same number of asset and liability accounts. affect two or less accounts a. flect two or more accounts