In a ledger,debit entries cause:
A)Increases in owners' equity,decreases in liabilities,and increases in assets.
B)Decreases in liabilities,increases in assets,and decreases in owners' equity.
C)Decreases in assets,decreases in liabilities,and increases in owners' equity.
D)Decreases in assets,increases in liabilities,and increases in owners' equity.

Question

Quizplus · Accepted Answer

Debit entries typically result in increases in assets and decreases in liabilities. They can also cause decreases in owners' equity, for example, when recording expenses, which reduce the net worth of the business.

In a Ledger,debit Entries Cause