Question: Explain why the term debit doesnt always mean increase and why the term credit doesnt always mean decrease.

Explain why the term debit doesn’t always mean “increase” and why the term credit doesn’t always mean “decrease.”

Step by Step Solution

3.34 Rating (166 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Debit means increase for asset accounts the owners drawing account and expense accounts how... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

339-B-A-A-C (4560).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!