In which of the following types of accounts are increases recorded by debits?
A) assets, liabilities
B) dividends, liabilities
C) expenses, liabilities
D) assets, expenses

Question

Quizplus · Accepted Answer

In asset accounts, increases are recorded by debits (e.g. when cash is received, the cash account is debited). In expense accounts, increases are also recorded by debits (e.g. when an expense is incurred, the expense account is debited). Liabilities and dividends, on the other hand, are increased by credits.

In Which of the Following Types of Accounts Are Increases