What accounts are increased with credits?
A)liabilities and assets
B)liabilities and expenses
C)liabilities,revenues and paid-in capital
D)assets and revenues

Question

Quizplus · Accepted Answer

Liabilities, revenues, and paid-in capital are increased with credits. Liabilities are increased with credits because credits represent an increase in the amount that the business owes. Revenues are increased with credits because they represent an increase in the amount of money that the business has earned. Paid-in capital is increased with credits because it represents an increase in the amount of money that investors have contributed to the business.

What Accounts Are Increased with Credits