Multiple Choice
Which of the following statements regarding accounts is incorrect?
A) An asset is increased by a debit and decreased by a credit.
B) Revenue is increased by a debit and an expense is increased by a credit.
C) A liability is decreased by a debit and increased by a credit.
D) Revenue is increased by a credit and an expense is increased by a debit.
Correct Answer:
Verified
Correct Answer:
Verified
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