Question 5 (5 points) Question 5 Accounts are classified depending on which of the five (5) elements of financial statements it belongs to: asset, liability, equity, income and expense. Increases and decreases to accounts are recorded with a 'debit and a 'credit' For each of the account classifications (asset, liability, equity, income and expense) identify whether a decrease would be a 'debit' or a 'credit'. Total question 5-5 marks