Debits are used to
A) decrease both asset and liability accounts
B) decrease liability accounts and increase asset accounts.
C) increase both asset and liability accountss.
D) increase liability accounts and decrease asset accounts.
Correct Answer:
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Q49: An account consists of
A) a title a
Q53: The best interpretation of the word credit
Q55: A T-account is
A) a way of depicting
Q78: An account is a part of the
Q81: Which of the following increases the Owner's
Q82: Which usually indicates an error?
A) A debit
Q84: Credits are used to
A) decrease both asset
Q85: Which increases owner's capital?
A) Revenues
B) Cash collections.
C)
Q86: Debit always means
A) increase.
B) decrease.
C) left side
D)
Q88: Which decreases owner's capital?
A) Revenues
B) Owner's Investments.
C)
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