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AAMI Accounting One, AAMI Accounting Two Exam with Questions and Answers How do you increase an asset account? ANSWER✓✓ Debit How do you decrease an asset account? ANSWER✓✓ Credit How do you increase a liability account? ANSWER✓✓ Credit How do you decrease a liability account? ANSWER✓✓ debit How do you increase revenue? ANSWER✓✓ Credit How do you increase expenses? ANSWER✓✓ debit What is the accounting equation? ANSWER✓✓ Assets=Liabilities+Owner's Equity Cash is a(n): ANSWER✓✓ Asset Revenue is a(n): ANSWER✓✓ Owner's Equity Accounts Receivable is a(n): ANSWER✓✓ Asset
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