Debit entries are used to
A)increase asset accounts.
B)decrease expense accounts.
C)increase liability accounts.
D)increase revenue accounts.

Question

Quizplus · Accepted Answer

Debit entries are used to increase asset accounts, as the use of funds to acquire or increase an asset is recorded as a debit entry. Expenses, liabilities and revenue accounts are typically affected by credit entries, as they represent a decrease in assets or an increase in liabilities.

Debit Entries Are Used to