Which pair of accounts follows the rules of debit and credit in the same manner?
A)Dividends payable and rent expense
B)Repair expense and notes payable
C)Prepaid insurance and advertising expense
D)Revenue from services and accounts receivable

Question

Quizplus · Accepted Answer

Both prepaid insurance and advertising expense are asset accounts, and they follow the same rules of debit and credit, where an increase is recorded as a debit and a decrease as a credit.

Which Pair of Accounts Follows the Rules of Debit and Credit