Asked by
Evelyn Williams
on Nov 12, 2024
Verified
In which of the following types of accounts are increases recorded by credits?
A) revenues and liabilities
B) drawing and assets
C) liabilities and drawing
D) expenses and liabilities
Recorded By Credits
Transactions that increase liabilities, equity, or revenue, or decrease assets or expenses, reflected in the accounting records.
Increases
A rise in the value or quantity of something, such as assets, revenue, or profits.
- Identify and arrange different categories of accounts (assets, liabilities, owner's equity, expenses, revenues).
- Determine the standard balance (debit or credit) applicable to different account categories.
Verified Answer
NJ
Learning Objectives
- Identify and arrange different categories of accounts (assets, liabilities, owner's equity, expenses, revenues).
- Determine the standard balance (debit or credit) applicable to different account categories.