Match the following definitions and terms by placing the number that identifies the best definition in the blank space next to the term.

- An increase in an asset, dividend and expense account and decrease in a liability, common stock and revenue account; recorded on the left side of a T-account
A) Credit
B) Journal
C) Account
D) Ledger
E) Source documents
F) Accounting records
G) Debit
H) T-account
I) Posting
J) Double-entry accounting

Question

Match the following definitions and terms by placing the number that identifies the best definition in the blank space next to the term.

-     An increase in an asset, dividend and expense account and decrease in a liability, common stock and revenue account; recorded on the left side of a T-account 
A) Credit 
B) Journal 
C) Account 
D) Ledger 
E) Source documents 
F) Accounting records 
G) Debit 
H) T-account 
I) Posting 
J) Double-entry accounting

Quizplus · Accepted Answer

Debit is an increase in an asset, dividend and expense account and decrease in a liability, common stock and revenue account; recorded on the left side of a T-account

Match the Following Definitions and Terms by Placing the Number