A credit represents a decrease in
A) an asset.
B) a liability.
C) owner's equity.
D) revenues.
Correct Answer:
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Q36: Mandy withdraws $600 from her business.This transaction
Q43: The capital account
A) decreases with increased revenue.
B)
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
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)
Q55: An example of an expense is
A) prepaid
Q57: Revenues
A) decrease liabilities.
B) decrease cash.
C) increase expenses.
D)
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