Expenses follow the same debit and credit rules as
A) revenues
B) assets
C) the Common Stock account
D) liabilities

Name: Expenses follow the same debit and credit rules as A) revenues B) assets C) the Common Stock account D) liabilities
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Question

Quizplus · Accepted Answer

Expenses increase with debits and decrease with credits, just like assets. This is because both are part of the accounting equation where assets = liabilities + equity, and expenses reduce equity through a decrease in net income.

Expenses Follow the Same Debit and Credit Rules as