The accounting entry to record the payment of a liability is
A) Debit an asset account and credit a liability account
B) Debit a liability account and credit an equity account
C) Debit an equity account and credit a liability account
D) Debit a liability account and credit an asset account
Correct Answer:
Verified
Q8: A deposit received in advance by Maharaj
Q9: In order to provide timely information for
Q10: A chronological record of all the transactions
Q11: Which is the correct statement concerning a
Q12: A credit entry is made to:
A)Decrease an
Q14: The term used in the Framework for
Q15: The true statement concerning the accounting period
Q16: The event that may be recorded in
Q17: The true statement is:
A)GST collections is an
Q18: Select the account types for these
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