Which of the following accounts are debited to record increases?
A) assets and liabilities
B) dividends and liabilities
C) expenses and liabilities
D) assets and expenses

Question

Quizplus · Accepted Answer

Assets and expenses are debited to record increases. When an asset is purchased or when an expense is incurred, the value of the asset or the expense account is increased. Therefore, these accounts are debited to record increases. Liabilities, dividends, and revenues are credited to record increases.

Which of the Following Accounts Are Debited to Record Increases