90. Indicate whether each of the following statements is true or false.
_____ a) A journal entry includes at least one debit and one credit entry.
_____ b) The double-entry accounting format records two separate events simultaneously.
_____ c) The double-entry system requires that total debits equal total credits.
_____ d) When an asset decreases in a double-entry system, an equity account may also decrease.
_____ e) The double entry system does not ensure complete accuracy in a company's accounting records.
91. Indicate whether each of the following statements is true or false.
_____ a) An asset source transaction may involve a debit to an asset and a credit to equity.
_____ b) An asset use transaction may involve a credit to an asset and a debit to equity.
_____ c) The issuance of stock for cash is an example of an asset source transaction.
_____ d) The payment of rent in advance involves a debit to Prepaid Rent and a credit to Cash.
_____ e) Recognition of Rent Expense (when a cash payment had previously been made in advance) involves a debit to Rent Expense and a credit to Cash.