A credit to an asset account indicates a(n)
A)error.
B)credit was made to a liability account.
C)decrease in the asset.
D)increase in the asset.

Name: A credit to an asset account indicates a(n) A)error. B)credit was made to a liability account. C)decrease in the asset. D)increase in the asset.
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Question

Quizplus · Accepted Answer

A credit to an asset account typically indicates a decrease in the value of that asset, as assets are increased by debits and decreased by credits according to the rules of double-entry bookkeeping.

A Credit to an Asset Account Indicates A(n)