1.In accordance with the debit and credit rules, which of thefollowing is true? Group of answer choices...
Question:
1.In accordance with the debit and credit rules, which of thefollowing is true?
Group of answer choices
Debits increase assets.
Credits increase assets.
Debits increase both assets and common stock.
Credits increase both assets and liabilities.
2.Expenses follow the same debit and credit rules as
Group of answer choices
revenues
assets
none of these
liabilities
3.Which of the following groups of accounts are increased with adebit?
Group of answer choices
assets, liabilities, stockholders’ equity
assets, dividends, expenses
assets, revenues, expenses
assets, liabilities, revenues
4.Which of the following groups of accounts increase with acredit?
Group of answer choices
common stock, revenues, expenses
assets, common stock, revenues
liabilities, common stock, revenues
none of these
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren