When an accountant uses T-accounts, the debit side is always the left side and the credit side is always the right side. Which of the following describes increases and decreases in assets and liabilities?

Question

Quizplus · Accepted Answer

When assets are considered, increases are accumulated on the left, or debit side, and decreases are accumulated on the right, or credit side. Liabilities and equity, however, are increased or decreased in the opposite manner: Debits represent decreases, and credits represent increases.

When an Accountant Uses T-Accounts, the Debit Side Is Always