An increase in a(n) _____________ account would be considered a(n) __________ of funds.
A) Asset; source
B) Liability; source
C) Liabilities; use
D) Expense; source
E) Revenues; use

Question

Quizplus · Accepted Answer

An increase in a liability account is considered a source of funds because it represents money that the company has borrowed or obligations it has incurred, which increases its available funds.

An Increase in A(n) _____________ Account Would Be Considered A(n)