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multiple choice accounting Question 9 (1 point) An accountant recorded a cash sale by debiting Bank and crediting Accounts Payable. As a result of this
multiple choice accounting
Question 9 (1 point) An accountant recorded a cash sale by debiting Bank and crediting Accounts Payable. As a result of this error, the trial balance will be out of balance. the Bank account will be overstated. the Owner's Equity account will be understated. the Accounts Payable account will be accurate. Question 10 (1 point) The rules of debit and credit state that O liability accounts decrease on the credit side. the left side is the credit side. assets decrease on the debit side. Owner's Equity decreases on the debit side. Question 11 (1 point) Which of the following is not true concerning the debit side of an account? It is the side where equity decreases. It is the left side of an account. It is the side on which assets increase. It is the normal balance for a liability account. Question 12 (1 point) Which of the following is not true concerning the credit side of an account? It is the side on which capital increases. It is the right side of an account. It is the side on which assets decrease. It is an exceptional balance for a liability account Step by Step Solution
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