Multiple Choice
Which type of account is increased when a company records an increase in debt?
A) Expense
B) Retained earnings
C) Liability
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q50: A business transaction has occurred when:<br>A)an event
Q51: Consider the following transactions: I. Borrowed cash
Q52: The debt created by a business when
Q53: What is the first step in the
Q55: Double-entry accounting means that each transaction:<br>A)increases at
Q56: Revenues are recorded when:<br>A)the company signs a
Q57: The normal balance of the Dividends account
Q58: Prepaid expense accounts appear on:<br>A)the Income Statement.<br>B)the
Q59: A company performed services for a customer
Q183: An account will have a debit balance