A debit increases an account and a credit decreases an account.

Name: A debit increases an account and a credit decreases an account.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Whether a debit or a credit increases or decreases an account depends on the type of account. For example, debits increase asset and expense accounts, while credits decrease them. Conversely, credits increase liability, equity, and revenue accounts, while debits decrease them.

A Debit Increases an Account and a Credit Decreases an Account