Question: 1. Is the following statement true or false? Debit means decrease and credit means increase. Explain your answer. 2. What are the three basic types

1. Is the following statement true or false? Debit means decrease and credit means increase. Explain your answer. 2. What are the three basic types of accounts? Name two additional types of

1. Is the following statement true or false? Debit means decrease and credit means increase. Explain your

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