Which of the following is not true concerning T accounts? A) The right side of a revenue account is an increase. B) The left side of an expense account is an increase. C) The left side of an asset account is an increase. D) The left side of a liability account is an increase.

Question

Quizplus · Accepted Answer

The left side of a liability account is a decrease, not an increase. Increases in liabilities are recorded on the right side of the account, consistent with the credit side in double-entry bookkeeping.

Which of the Following is Not True Concerning T Accounts