Multiple Choice
If the effect of the debit portion of an adjusting entry is to increase the balance of an expense account, which of the following describes the effect of the credit portion of the entry?
A) decreases the balance of a stockholders' equity account
B) increases the balance of a liability account
C) increases the balance of an asset account
D) decreases the balance of an expense account
Correct Answer:
Verified
Correct Answer:
Verified
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