Debit and credit can be interpreted to mean
A) "bad" and "good," respectively.
B) increase and decrease, respectively.
C) decrease and increase, respectively.
D) either an increase or decrease depending on the account.

Question

Quizplus · Accepted Answer

Debit and credit are accounting terms that refer to the two sides of a transaction. A debit is an entry on the left side of an account, and a credit is an entry on the right side. Debits increase assets and expenses, and decrease liabilities, equity, and revenue. Credits decrease assets and expenses, and increase liabilities, equity, and revenue.

Debit and Credit Can Be Interpreted to Mean