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24 January, 12:24

A debit may signify a (n) a. decrease in a liability account b. decrease in an asset account c. increase in the retained earnings account d. decrease in the dividends account

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  1. 24 January, 12:47
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    a. decrease in a liability account

    Explanation:

    A debit account records the expenses, losses and the assets account whereas the credit account records the revenues, gains, and the liabilities & stockholder equity

    The liabilities have a credit balance. If there is a decrease in a liability account the balance of liabilities account would be shown on the debit side

    Therefore, the correct option is a.
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