Ask Question
27 March, 16:31

Which of the following is true about a "debit"? a) It is part of the double-entry procedure that keeps the accounting equation in balance. b) It represents an increase to assets. c) It represents a decrease to liabilities. d) It is on the right side of a T-account.

+2
Answers (1)
  1. 27 March, 16:38
    0
    The correct answers are A, B and C.

    Explanation:

    The word debit refers to debt, that is, at the request of accounting, it includes that numerical entry that is made in the account, in the "must", that is, on the left side and that represent assets or rights owned by the person or the company in question. It can increase the balance of a liability, or failing that, implies a decrease in the balance of an asset.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Which of the following is true about a "debit"? a) It is part of the double-entry procedure that keeps the accounting equation in balance. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers