A credit decreases the balance of which types of accounts?
A) assets and shareholders' equity
B) liabilities and expenses
C) assets and liabilities
D) expenses and assets
Correct Answer:
Verified
Q23: What is the first step in the
Q24: The account credited when supplies are purchased
Q25: A trial balance is:
A) a list of
Q26: The normal balance of the Supplies account
Q27: Which type of account is credited when
Q29: Accounting transactions are first recorded in a
Q30: When a business sells inventory in exchange
Q31: Which type of account is credited when
Q32: The payment for rent of the office
Q33: Credits to revenue accounts ultimately result in:
A)
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