What type of account is increased with a debit but is a decrease to Retained Earnings?
A)Liability
B)Asset
C)Revenue
D)Expense

Question

Quizplus · Accepted Answer

The type of account that is increased with a debit and is a decrease to Retained Earnings is an Expense account. Expenses are debited when they are incurred, which increases the expense account. However, expenses decrease net income, which ultimately decreases Retained Earnings. This is because Retained Earnings represents the accumulated total of a company's net income over time.

What Type of Account Is Increased with a Debit but Is