A credit entry:
A)Increases asset and expense accounts,and decreases liability,common stock,and revenue accounts.
B)Is always a decrease in an account.
C)Decreases asset and expense accounts,and increases liability,common stock,and revenue accounts.
D)Is recorded on the left side of a T-account.
E)Is always an increase in an account.

Question

Quizplus · Accepted Answer

A credit entry decreases asset and expense accounts, and increases liability, common stock, and revenue accounts. This is in accordance with the double-entry accounting system where debits and credits must balance.

A Credit Entry