A credit means
A)the event has an effect on the left side of an account.
B)the event is unfavorable.
C)the event is favorable.
D)None of these are correct.

Question

Quizplus · Accepted Answer

Credits are accounting entries that can either increase liabilities and equity or decrease assets, depending on the account. They do not inherently signify something favorable or unfavorable, nor are they exclusively associated with the left side of an account (that would be debits).

A Credit Means