The statement that is incorrect is:
A) A debit entry is used to increase assets
B) A credit entry is used to increase liabilities
C) A credit entry is used to increase expenses
D) A debit entry is used to decrease equity
Correct Answer:
Verified
Q36: If assets are $560 000 and equity
Q37: When a customer eventually pays for items
Q38: The rule that is incorrect is:
A)Increases in
Q39: In recording wages for the month a
Q40: A business purchased a delivery vehicle for
Q42: The statement about a trial balance that
Q43: The accounting principle that requires separation of
Q44: When parties deal from equal bargaining positions
Q45: Cheque butts,invoices,purchase orders,credit card slips and cash
Q46: A manual spreadsheet,used by accountants to organise
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents