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Select all of the following which are correct 00000000 Debits are positively signed values Credits are negatively signed values Debiting an accounts is always good
Select all of the following which are correct 00000000 Debits are positively signed values Credits are negatively signed values Debiting an accounts is always "good news" for the firm Crediting an account is always "bad news" for the firm Debiting an account can be either "good news" or "bad news", depending on the account Crediting an account can be either "bad news" or "god news" depending on the account Each event (transaction) is recorded in the accounting system with debit entries and credit entries which must add up to zero Double entry bookkeeping is the process of posting a debit entry and a credit entry (or several of each) for each event recorded in the accounting system
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