Multiple Choice
Which of the following is not a correct rule of debits and credits?
A) Assets, expenses, and withdrawals are increased by debits.
B) Assets are decreased by credits and have a normal debit balance.
C) Liabilities, revenues, and owner's equity are increased by credits.
D) The normal balance for revenues and expenses is a credit.
Correct Answer:

Verified
Correct Answer:
Verified
Q3: Increases and decreases in various types of
Q4: The debit side of an account<br>A) depends
Q5: Which of the following entries records the
Q6: The cash account will always be debited.
Q7: Assets are increased with debits and decreased
Q9: A cash payment is recorded in the
Q10: Several types of errors can be made
Q11: The double-entry accounting system records each transaction
Q12: When a transposition error is made on
Q13: The recording of cash receipts to the