A credit means
A)the event had a favorable impact on the entity's financial statements.
B)the event had an unfavorable impact on the entity's financial statements.
C)the event had an effect on the right side of the T-account.
D)the event had the effect of increasing the account balance.

Question

Quizplus · Accepted Answer

A credit refers to an entry on the right side of a T-account, which can either increase or decrease an account balance depending on the type of account.

A Credit Means