Which of the following statements is correct?
A)Assets have a credit balance and are increased with debits.
B)Assets have a debit balance and are increased with credits.
C)Liability accounts have debit balances and are increased with debits.
D)Stockholders' equity accounts normally have credit balances and are increased with credits.

Question

Quizplus · Accepted Answer

An accounts balance, or normal balance, is the same as how that account is increased. Stockholders' equity accounts have a normal credit balance and are increased with credits.

Which of the Following Statements Is Correct