The debit side of all accounts increases the balance and the credit side decreases all accounts.

Name: The debit side of all accounts increases the balance and the credit side decreases all accounts.
Brand: Quizplus
Rating: 4.8 (38 reviews)

Question

Quizplus · Accepted Answer

This statement is incorrect. The debit side of certain accounts increases the balance while the credit side decreases the balance, while for other accounts it is the opposite. It depends on the type of account and transactions being recorded.

The Debit Side of All Accounts Increases the Balance and the Credit