In which of the following types of accounts are increases recorded by credits? a. expenses and liabilities b. liabilities and drawing c. revenues and liabilities d. drawing and assets

Question

Dominique Richard

Business

13 April, 20:22

In which of the following types of accounts are increases recorded by credits? a. expenses and liabilities b. liabilities and drawing c. revenues and liabilities d. drawing and assets

+2

Answers (1)

Know the Answer?

Johns · Answer 1

The correct answer is C

Explanation:

Credit is the term which is used in accounting and it is defined as the accounting entry which either increase the liabilities and the equity or decreases the assets on the balance sheet of the company or firm.

So, the kind of the accounts where the increase will be reported or recorded by the credits, the account would be liabilities and the expenses.