Multiple Choice
A credit represents a decrease in
A) an asset.
B) a liability.
C) owner's equity.
D) revenues.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q21: A credit increases liabilities and owner's equity.
Q50: Prepaid insurance and supplies are assets because
Q52: Accounts that affect owner's equity are<br>A) assets,
Q54: Revenue accounts normally have debit balances.
Q56: Payment of office rent represents a decrease
Q58: Payment of rent decreases the Cash account.
Q62: Match the terms with the definitions.<br>
Q66: If services for the month total $3,300
Q71: The purchase of an asset on account
Q77: The balance of a T account is