Solved by verified expert :31. Journalizing
eliminates fraud.
True False
32. The
double-entry accounting system records each transaction twice.
True False
33. The
increase side of all accounts is the normal balance.
True False
34. Transactions
are initially entered into a record called a journal.
True False
35. The
process of recording a transaction in the journal is called journalizing.
True False
36. Journalizing
is the process of entering amounts in the ledger.
True False
37. Transactions
are listed in the journal chronologically.
True False
38. Journalizing
transactions using the double-entry bookkeeping system will eliminate
fraud.
True False
39. Liability
accounts are increased by debits.
True False
40. Expense
accounts are increased by credits.
True False
41. Revenue
accounts are increased by credits.
True False
42. The
normal balance of a capital stock account is a debit.
True False
43. The
normal balance of the dividends account is a debit.
True False
44. The
normal balance of an expense account is a credit.
True False
45. The
normal balance of revenue accounts is a credit.
True False
