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Prepaid Insurance is decreased with a credit.
False
False
False
True
True
False
True
False
Increases to accounts are recorded on the debit side.
False
False
False
True
True
False
True
False
Advertising Expense is increased with a debit.
False
False
False
True
True
False
True
False
Cash is increased with a credit.
False
False
False
True
True
False
True
False
To summarize withdrawal information separately from the other records, owner withdrawal transactions are recorded in the owner’s capital account.
False
False
False
True
True
False
True
False
Accounts payable accounts are increased with a debit.
False
False
False
True
True
False
True
False
Increases in expense accounts are recorded as debits because they decrease the owner’s capital account.
False
False
False
True
True
False
True
False
A drawing account is decreased by debits and increased by credits.
False
False
False
True
True
False
True
False
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