Asked by Takafumi Yoshida on Jun 04, 2024

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The debit side of all accounts decreases the account balance and the credit side of all accounts increases the account balance.

Account Balance

The difference between the debits and credits recorded in an account, representing the net value at a point in time.

  • Understand the fundamental principles of double-entry accounting.
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Nikolas PelligrinoJun 05, 2024
Final Answer :
False
Explanation :
In accounting, the effect of debits and credits on account balances depends on the type of account. For asset and expense accounts, debits increase the balance and credits decrease it. For liability, equity, and revenue accounts, credits increase the balance and debits decrease it.