What types of account balances are increased by credits?
A) Liabilities and expenses
B) Liabilities and revenues
C) Revenues and expenses
D) Owners' equity and expenses
E) Assets and Liabilities

Question

Quizplus · Accepted Answer

According to the rules of double-entry accounting, credits increase the balances of liabilities and revenues accounts. Therefore, the correct answer is B, which includes both of these types of accounts.

What Types of Account Balances Are Increased by Credits