Which of the following is true about a "debit"? I.It is part of the double-entry procedure that keeps the accounting equation in balance.
II)It represents an increase to assets.
III)It represents a decrease to liabilities.
IV)It is on the right side of a T-account.

Question

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In accounting, a debit is part of the double-entry system (I), increases assets (II), and decreases liabilities (III). However, it is recorded on the left side of a T-account, not the right (IV).

Which of the Following Is True About a "Debit"? I