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