Multiple Choice
Which of the following statements regarding accounts is true?
A) Assets are decreased by debits.
B) Expenses are decreased by debits.
C) Revenues are increased by debits.
D) Liabilities are decreased by debits.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q24: Analyze the following transactions. Indicate which accounts
Q26: Given the journal entries below, write an
Q29: Prepare a Statement of Retained Earnings for
Q36: Performing services on account would:<br>A) increase assets
Q41: The purchase of office furniture on account
Q47: An owners' investment of land and a
Q91: In accounting,the process of posting is:<br>A) copying
Q107: The purchase of an automobile with a
Q120: Making a cash payment to settle a
Q137: Prepare journal entries in good form for