8 of 29 27/87.Select the account below that normally has a credit balance. A. Cash. B....

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8 of 29 27/87.Select the account below that normally has a credit balance. A. Cash. B. Office Equipment. C. Wages Payable. D. Dividends. E. Sales Salaries Expense. 28/88.A debitis used to record which of the following? A. A decrease in an asset account. B. A decrease in an expense account. C. An increase in a revenue account. D. An increase in a contributed capital account. E. An increase in the dividends account. 29/89.A credit entry: A. Increases asset and expense accounts, and decreases liability, stockholders' equity, and revenue accounts. B. Is always a decrease in an account. C. Decreases asset and expense accounts, and increases liability, stockholders' equity, and revenue accounts. D. Is recorded on the left side of a T-account. E. Is always an increase in an account. 30/90.A double-entry accounting system is an accounting system: A. That records each transaction twice. B. That records the effects of transactions and other events in at least two accounts with equal debits and credits. C. In which each transaction affects and is recorded in two or more accounts but that could include two debits and no credits. D. That may only be used if T-accounts are used. E. That insures that errors never occur. 8 of 29 27/87.Select the account below that normally has a credit balance. A. Cash. B. Office Equipment. C. Wages Payable. D. Dividends. E. Sales Salaries Expense. 28/88.A debitis used to record which of the following? A. A decrease in an asset account. B. A decrease in an expense account. C. An increase in a revenue account. D. An increase in a contributed capital account. E. An increase in the dividends account. 29/89.A credit entry: A. Increases asset and expense accounts, and decreases liability, stockholders' equity, and revenue accounts. B. Is always a decrease in an account. C. Decreases asset and expense accounts, and increases liability, stockholders' equity, and revenue accounts. D. Is recorded on the left side of a T-account. E. Is always an increase in an account. 30/90.A double-entry accounting system is an accounting system: A. That records each transaction twice. B. That records the effects of transactions and other events in at least two accounts with equal debits and credits. C. In which each transaction affects and is recorded in two or more accounts but that could include two debits and no credits. D. That may only be used if T-accounts are used. E. That insures that errors never occur.

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