In a T account form, the left side is the increase side for:
A) liabilities.
B) capital.
C) assets.
D) revenue.

Question

Quizplus · Accepted Answer

In a T account form, the left side is typically reserved for increases in assets. This is because assets are things that a business possesses, such as cash or property. When a business acquires more assets, it is receiving something of value, and this is reflected as an increase on the left side of the T account. Liabilities, on the other hand, refer to what a business owes to others (such as loans or account payable). Capital reflects the owner's claim to assets of the business (owner’s equity). Revenue is when a business earns money from selling goods or services, and it is also reflected on the right side of the T account.

In a T Account Form, the Left Side Is the Increase