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7. The T account is usually replaced with a: a. 4-column account b. it is not replaced c. vital to IFRS accounting O d. ***
7. The T account is usually replaced with a: a. 4-column account b. it is not replaced c. vital to IFRS accounting O d. *** to establish that the transaction was entered. QUESTION 8 8. Cash payment on a car originally purchased on account would result in: a. decrease in liability b. increase in asset c. no entry, as it cancels out. O d.credit to interest expense
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