A friend comes to you with the following plight: Im confused. An asset is something positive, and
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A friend comes to you with the following plight: “I’m confused. An asset is something positive, and it is increased with a debit. However, an expense is something negative, and it is also increased with a debit. I don’t get it.” How can you “straighten out” your friend?
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Assets are positive in that they represent future economic benefits It is m...View the full answer
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Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
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