Is my answers correct for these questions?

1. The term debit implies

- Value received

2. In the accounting equation, expense incurred is

- deducted from the capital

3. The term credit implies

- value parted with

4. The business rendered services to the customer. The income account should be

- Debited

5. The business paid the advertising convering a six month period. The transaction will

- Decrease the expense account

6. It refers to the claims of the creditor and the owners of the business

- Equity

7. A note was received from the customer as payment for the services rendefed. This will increase

- Liability account

8. The capital account is affected by the following transactions, except

- Realization of income

9. The business billed the customer for services rendered. The asset account should be

- Debited

10. Statement 1: Reduction in the value of capital can be attributed in the incurrence of expense

Statement 2: Increase in the value of asset can be attributed to the realization of income

- Both statements are correct