Debit and credit can be interpreted to mean increase and decrease respectively.

Name: Debit and credit can be interpreted to mean increase and decrease respectively.
Brand: Quizplus
Rating: 4.9 (34 reviews)

Question

Quizplus · Accepted Answer

Debit and credit are accounting terms that indicate the left and right sides of a ledger, respectively. They do not inherently mean increase or decrease; their effect depends on the type of account (asset, liability, equity, revenue, or expense).

Debit and Credit Can Be Interpreted to Mean Increase and Decrease