Because expenses are decreases in equity, increases in expenses are recorded as debits.
举一反三
- Which of the following is expenses ratio? ( ) A: Selling and Distribution expenses ratio B: Finance Expenses ratio C: Factory expenses ratio D: Administrative expenses ratio
- 中国大学MOOC: Incurred but unpaid expenses that are recorded during the adjusting process with a debit to an expense and a credit to a liability are:
- The matching principle provides guidance in accounting for ( ). A: Expenses B: Assets C: Owner’s equity D: Liabilities
- According to the concept of expenses, which of following items belong to "Expenses"?
- The statement of cash flows reports: A: Revenues and expenses B: Assets and liabilities C: Cash inflows and cash outflows D: Changes in equity