When someone invests $20,000 in a new business, this amount will be debited in Cash Account and Credited in the Personal Liability section in the company's book of accounts. * O True False Ethical Behavior is a concern for the impact of our actions on society as a whole. It requires that an organization identify issues, analyze options, and make socially responsible decisions.* True False The income statement presents the revenues and expenses and resulting net income or net loss for a specific period of time, and the Retained earnings statement summarizes the changes in retained earnings for a specific period of time." True False In a general ledger, If the debited amount is greater than the credited amount, the account will have a credit balance, and if the debited amount is less than the credited amount, the account will have a debit balance." True False Ledger or posting contributes to the recording process because it discloses the complete effect of a transaction, provides a chronological record of transactions, and helps to prevent or locate errors because the debit and credit amounts can be readily compared. * True False