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Which of the statements in financial accounting is incorrect

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Reference no: EM132784852

Problem 1: Which of the following statements in financial accounting is incorrect?

Select one alternative:

Option 1: The actual position of equity accounts is in credit

Option 2: The actual balance of asset accounts is in debit

Option 3: The actual position of equity accounts is in debit

Option 4: The actual balance of income accounts is in credit

Reference no: EM132784852

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