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In classifying transactions, which of the following is true in regard to assets? A. Normal balances and increases are debits B. Normal balances and decreases are credits C. Normal balances can either
be debits or credits for assets D. Normal balances are debits and increases can be debits or credits
In classifying transactions the following is true in regard to assets: A. Normal balances and increases are debits.
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User: In classifying transactions, which of the following is true in regard to assets? A. Normal balances and increases are debits B. Normal balances and decreases are credits C. Normal balances can either be debits or credits for assets D. Normal balances are debits and increases can be debits or credits

Weegy: In classifying transactions the following is true in regard to assets: A. Normal balances and increases are debits.
debnjerry|Points 28432|

User: Under the accrual basis of accounting A. cash must be received before revenue is recognized B. net income is calculated by matching cash outflows against cash inflows C. events that change a company?s financial statements are recognized in the periodthey occur rather than in the period in which the cash is paid or received D. the ledger accounts must be adjusted to reflect a cash basis of accounting beforefinancial statements are prepared under generally accepted accounting principles

Weegy: C. [ events that change a company?s financial statements are recognized in the periodthey occur rather than in the period in which the cash is paid or received ]
Expert answered|thewolf010|Points 200|

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Asked 3/17/2012 9:36:20 PM
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