menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Financial Accounting Study Set 10
  4. Exam
    Exam 2: Transaction Analysis
  5. Question
    An Important Rule of Debits and Credits Is
Solved

An Important Rule of Debits and Credits Is

Question 68

Question 68

Multiple Choice

An important rule of debits and credits is:


A) credits increase a liability account.
B) debits decrease an asset account
C) revenues are increased by a debit.
D) expenses are increased by a credit.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q63: Golden Company had a balance of $40,000

Q66: Which of the following is a correct

Q67: The Diamond Store began business on June

Q69: A company paid cash for an amount

Q70: Revenues and expenses are specialized stockholders' equity

Q71: Every transaction has two sides-you give something

Q72: The normal balance of an account:<br>A) falls

Q73: Assets, expenses, and dividends are all increased

Q125: A bookkeeper posted the same journal entry

Q190: What is the last step in the

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines