Question 4 The basic rule of double-entry bookkeeping is that debits must always equal credits for every transaction. False True Question 5 What type of account is unearned revenue? Revenue Liability Asset Equity Expense Question 6 Which of the following accounts decreases with a debit? Loss Asset Dividends Paid Expense Liability Question 7 Which of the following maintains the monetary balance for each of the accounts reported by an organization with a left (debit) side and a right (credit) side used to show increases and decreases? Balance sheet Journal T-account Trial balance Income statement 1 pts 1 pts 1 pts 1 pts