__________decrease assets and expenses and/or increase liabilities and/or equity
Answer(s): C
The excess credits (or debits) on the income statement are used to decrease (or increase) the equity account.
Answer(s): B
Delivery has not occurred or services have not been rendered when:
___________and__________ are used to increase (or decrease) the equity account.
By removing a tangible asset from the business (a debit), the books will be ___________ by the exact amount of the tangible asset misappropriated.
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