A credit
A) increases assets.
B) is on the right side.
C) decreases liabilities.
D) decreases owner's equity.

Question

Quizplus · Accepted Answer

A credit is an entry on the right side of a double-entry accounting system, which records an increase in a liability, revenue, or equity account, or a decrease in an asset or expense account. It does not directly affect assets, liabilities or owner's equity, but instead records a transaction that affects them. Therefore, choices A, C, and D are incorrect.

A Credit