A debit may signify a(n):
A)increase in asset accounts.
B)increase in liability accounts.
C)increase in the revenue account.
D)decrease in expense accounts.

Name: A debit may signify a(n): A)increase in asset accounts. B)increase in liability accounts. C)increase in the revenue account. D)decrease in expense accounts.
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Question

Quizplus · Accepted Answer

Debits increase asset accounts, such as cash, accounts receivable, and inventory, as well as expenses. Liabilities and revenue are increased by credits.

A Debit May Signify A(n)