Which of the following is NOT true about an asset?
A) Its normal balance is a debit.
B) To increase an asset a debit entry would be made.
C) To increase it, a credit entry should be made.
D) To decrease it, a credit entry should be made.

Question

Quizplus · Accepted Answer

Assets increase with debit entries and decrease with credit entries. Therefore, a credit entry does not increase an asset, making option C incorrect.

Which of the Following Is NOT True About an Asset