Multiple Choice
Which of the following is not true of the terms debit and credit?
A) They can be abbreviated as Dr.and Cr.
B) They can be interpreted to mean increase and decrease.
C) They can be used to describe the balance of an account.
D) They can be interpreted to mean left and right.
Correct Answer:

Verified
Correct Answer:
Verified
Q9: When a company receives a utility bill
Q10: If total assets are increased, there must
Q11: The sequence of steps in the
Q12: A T account is<br>A)a way of illustrating
Q13: After transaction information has been recorded in
Q15: The left side of a T account
Q16: An increase in the Dividends Declared account
Q17: An individual accounting record for a specific
Q18: The double-entry system requires that each transaction
Q19: An individual accounting record of increases and