Debits are used to record increases in:
A)assets and liabilities.
B)assets and expenses.
C)revenue and owner's equity.
D)assets and revenue.

Name: Debits are used to record increases in: A)assets and liabilities. B)assets and expenses. C)revenue and owner's equity. D)assets and revenue.
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Question

Quizplus · Accepted Answer

Debits are used to record increases in assets and expenses. The opposite, credits, are used to record increases in liabilities, revenue, and owner's equity.

Debits Are Used to Record Increases In