10. An increase in an expense is always recorded as a debit. True O False 11. An account balance is the difference between total debits and total credits in an account. True False 12. The owner's personal withdrawals for the year cause a decrease in profit. True False
10. An increase in an expense is always recorded as a debit. True O False 11. An account balance is the difference between total debits and total credits in an account. True False 12. The owner's personal withdrawals for the year cause a decrease in profit. True False
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question
![21:12
1 Classroom
10. An increase in an expense is
always recorded as a debit.
True
False
11. An account balance is the
difference between total debits
and total credits in an account.
True
O False
12. The owner's personal
withdrawals for the year cause a
decrease in profit.
True
O False](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1e63ed0e-c160-4e4f-989e-f1ad8595ca8c%2Fdff3b439-154f-4d66-9e5c-e7b5f103dd1f%2F1mq4il9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:21:12
1 Classroom
10. An increase in an expense is
always recorded as a debit.
True
False
11. An account balance is the
difference between total debits
and total credits in an account.
True
O False
12. The owner's personal
withdrawals for the year cause a
decrease in profit.
True
O False
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