True or False please UNDERLINE TRUE OR FLASE!

1. Credit is a transaction that adds value to an account; it results in the increase of an asset or a decrease in a liability or owners equity TRUE or FALSE (circle)
2. Debit is a transaction that removes value from an account; it results in a decrease to an asset or expense account, or increases capital, liability, or revenue account TRUE or FALSE (circle)
3. Debits always appear on the left AND Credits always appear on the right TRUE OR FALSE? (circle)
4. The accounting equation is a simple way to view the relationship of financial activities across a business. TRUE OR FALSE? (circle)
5. The balance sheet essentially takes care of filling in each of the values in the equation, so the equation is not meant for actual use but is instead a simplified representation of how the financial side of a business functions. TRUE OR FALSE? (circle)
6. Debits include assets add value to your individual or business wealth such as cash (bank and on hand), accounts receivable, and equipment, buildings, supplies, stock/inventory while these are expenses incurred by the business, they are considered an asset to the company/business. TRUE OR FALSE? (circle)
7. Expenses an owner can pull money out of the business for personal reasons; a distribution of shareholder equity. TRUE or FALSE (circle)
8. Draw is rent, utilities, internet, telephone, wages TRUE or FALSE (circle)
9. Liabilities accounts that remove value from your individual or business worth these include accounts payable, debt owed, bank loan Equity this is the amount of money the owner has invested in the business. TRUE or FALSE (circle)