Which of the following statements is true?
A: A debit records an increase in liabilities.
B: A debit records a decrease in assets.
C: A credit records an increase in liabilities.
D: A credit records an decrease in capital.
A: A debit records an increase in liabilities.
B: A debit records a decrease in assets.
C: A credit records an increase in liabilities.
D: A credit records an decrease in capital.
举一反三
- Which one of the following statements is correct？ A: An increase in an asset is a debit and an increase in an expense is a credit B: An increase in capital is a debit and an increase in a liability is a credit C: An increase in an expense is a debit and a reduction in an asset is a credit D: A reduction in a liability is a debit and an increase in an expense is a credit
- Debit entry of "Reserve Assets" records the decreases in Reserve Assets.
- Johnson company pays the software company $5,000 with a check that they bought. Which the following statement is true? A: Assets are increase and liabilities are increase. B: Assets are decrease and owner’s equity is decrease. C: Assets are decrease and liabilities are decrease. D: Assets are increase and owner’s equity is increase.
- Which of the following is a debit entry? A: Sales B: An increase in a liability C: A decrease in an asset D: An increase in cash
- A decrease in the allowance for receivables would result in: A: An increase in liabilities and assets. B: A decrease in gross profit. C: A decrease in net profit. D: An increase in net profit.