An increase in an asset account may be offset by a(n)
A) decrease in a liability account.
B) increase in an expense account.
C) increase in owner's equity.
D) decrease in owner's equity.
Correct Answer:
Verified
Q43: The capital account
A) decreases with increased revenue.
B)
Q44: Accounts that affect owner's equity are
A) assets,capital,and
Q45: The drawing account should be used to
Q46: The normal balance of a capital account
A)
Q47: A T account has which of the
Q49: Increases are entered on the credit side
Q50: The difference between the total debits and
Q51: A credit
A) increases assets.
B) is on the
Q52: A cash payment on a loan affects
Q53: A debit
A) is on the left side.
B)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents