A debit may signify a (n)
A) decrease in asset accounts
B) decrease in liability accounts
C) increase in the capital account
D) decrease in the drawing account

Name: A debit may signify a (n) A) decrease in asset accounts B) decrease in liability accounts C) increase in the capital account D) decrease in the drawing account
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Question

Quizplus · Accepted Answer

A debit signifies a decrease in liability accounts, as it increases asset accounts or expense accounts and decreases liability accounts, equity accounts, or revenue accounts.

A Debit May Signify a (N)