Which statement is NOT true?
A) A credit increases a liability account.
B) A debit increases an asset account
C) Revenues are increased by a debit.
D) Expenses are increased by a debit.
Correct Answer:
Verified
Q60: Cash dividends paid to the stockholders will:
A)increase
Q62: A chronological record (or history)of an entity's
Q64: What is the first step in the
Q66: Which accounts are increased by debits?
A)Assets and
Q67: A business purchases a truck by signing
Q69: Increases in stockholders' equity that result from
Q69: Decreases in stockholders' equity that are due
Q70: Transactions affecting stockholders' equity include:
A)common stock, revenues,
Q110: An account will have a debit balance
Q120: Accounting transactions are initially recorded in the:
A)T-account.
B)ledger.
C)journal.
D)financial
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