Multiple Choice
Which of the following statements regarding accounts is true?
A) Revenue is increased by a debit; an expense is increased by a credit.
B) Dividends are decreased by debits and increased by credits.
C) A liability is increased by a debit and decreased by a credit.
D) An asset is increased by a debit and decreased by a credit.
Correct Answer:
Verified
Correct Answer:
Verified
Q26: The accounting records are considered to be
Q27: In accounting, the process of posting involves
Q28: Accounting transactions are initially recorded in the:<br>A)poster.<br>B)ledger.<br>C)journal.<br>D)T-
Q29: An owner makes an investment of cash
Q30: What is one of the first steps
Q32: All of the following accounts would be
Q33: Notes payable, accounts payable, taxes payable and
Q34: A trial balance has which of the
Q35: If the payment of a utilities bill
Q36: The payment of salaries to employees would:<br>A)increase