True/False
An increase in a liability is recorded by a credit; an increase in equity by a debit.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q3: A trial balance consists of:<br>A)A two-column schedule
Q9: If the number of debit entries in
Q63: The manager of Grande Home Improvements purchased
Q74: Given the following list of accounts
Q75: A journal entry to record revenue could
Q77: The <i>matching principle</i> is best demonstrated by:<br>A)
Q79: Profit is:<br>A) The excess of debits over
Q80: The collection of an account receivable is
Q83: Revenues increase equity because:<br>A) Revenues increase profit
Q147: Bruno's Pizza Restaurant makes full payment of