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Public Accounting

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Public Accounting

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Escoge verdadero o falso según corresponda

Created by

Danniela Sanchez
Danniela Sanchez
Colombia

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Public Accounting
 

Public AccountingOnline version

Escoge verdadero o falso según corresponda

by Danniela Sanchez
1

Assets always go on the credit side.

2

Accounting is called the “language of business.

3

Cash in bank is considered a liability.

4

Double-entry means every transaction affects at least two accounts.

5

Revenues are recorded on the debit side.

6

The three main financial statements are: Balance Sheet, Income Statement, and Cash Flow Statement.

7

Accounts Payable is an asset.

8

Debits and credits must always balance.

 
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