Which of the following is/are true about a "credit"? I. It is part of the double-entry procedure that keeps the accounting equation in balance.
II) It represents a decrease to assets.
III) It represents an increase to liabilities.
IV) It is on the right side of a T-account.
A) I and II.
B) IV only.
C) I, II, and III.
D) I, II, III, and IV.
Correct Answer:
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