A credit entry:
A) Increases asset and expense accounts, and decreases liability, owner's capital, and revenue accounts.
B) Is always a decrease in an account.
C) Decreases asset and expense accounts, and increases liability, owner's capital, and revenue accounts.
D) Is recorded on the left side of a T-account.
E) Is always an increase in an account.

Question

Quizplus · Accepted Answer

A credit entry decreases asset and expense accounts, and increases liability, owner's capital, and revenue accounts, following the rules of double-entry bookkeeping.

A Credit Entry