A credit entry is made to:
A) decrease an asset, increase a liability, and decrease equity.
B) decrease an expense, increase income, and increase equity.
C) increase an asset, decrease a liability, and decrease equity.
D) decrease an asset, decrease a liability, and increase equity.
Correct Answer:
Verified
Q25: The accounting entry to record the payment
Q26: What is the correct order of the
Q27: A chart of accounts is a:
A) planning
Q28: In order to provide timely information for
Q29: A chronological record of all the transactions
Q31: If a transaction causes an equity account
Q32: A listing of the complete ledger account
Q33: A party to whom the entity owes
Q34: GST paid by a business on the
Q35: A collection of all the individual accounts
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