Which of the following is not true of the terms debit and credit?
A) They can be abbreviated as Dr.and Cr.
B) They can be interpreted to mean increase and decrease.
C) They can be used to describe the balance of an account.
D) They can be interpreted to mean left and right.
Correct Answer:
Verified
Q67: Debit and credit can be interpreted to
Q68: Which one of the following represents the
Q69: An individual accounting record of increases and
Q70: The normal balance of any account is
Q71: Which of the following correctly identifies the
Q73: The right side of an account is
A)always
Q74: The equality of debits and credits is
Q75: A credit is not the normal balance
Q76: The best interpretation of the word credit
Q77: A credit to an asset account indicates
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