menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Financial Accounting Study Set 31
  4. Exam
    Exam 2: The Recording Process
  5. Question
    Which of the Following Rules Is Incorrect
Solved

Which of the Following Rules Is Incorrect

Question 64

Question 64

Multiple Choice

Which of the following rules is incorrect?


A) Credits decrease the dividends account.
B) Debits increase the common stock account.
C) Credits increase revenue accounts.
D) Debits decrease liability accounts.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q59: Prepare a corrected trial balance for Stereolab

Q60: Which of the following is true?<br>A)Transaction analysis

Q61: When three or more accounts are required

Q62: After a business transaction has been analyzed

Q63: On October 3, Karl Schickele, a carpenter,

Q65: An accountant has debited an asset account

Q66: A debit to an asset account indicates<br>A)an

Q67: The standard form of a journal entry

Q68: In the first month of operations, the

Q69: Transactions are entered in the ledger accounts

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines