Solved

A Credit Decreases the Balance of Which Types of Accounts

Question 43

Multiple Choice

A credit decreases the balance of which types of accounts?

A) expenses and assets
B) liabilities and expenses
C) assets and liabilities
D) assets and shareholders' equity

Related Questions

Q38: Post the following journal entries to the

Q41: The purchase of office furniture on account

Q42: The accounting transaction to record payment of

Q44: From the following list of transactions,prepare a

Q45: The normal balance of the Common Shares

Q46: Where is information for each account stored?

Q47: An owners' investment of land and a

Q71: Prepaid rent is an expense because the

Q121: A record of all the changes in

Q124: All revenue accounts normally have a credit