Question: A credit is ? a . A decrease in a liability account b . A deceeas in an asset account c . The left -

A credit is?
a. A decrease in a liability account
b. A deceeas in an asset account
c. The left-handed side of a T-account
d.all of the above

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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

Students Have Also Explored These Related Accounting Questions!

Q:

I. Multiple Choice Questions. ONLY ONE answer is correct. (1X2020 imits the economie data in an accounting system to data related directly to the activities of the business b. The objective concept...

Q:

13. Purchase of an Asset on Account 14. Investment by Owner ALE A L + E Q-1. Use the lettered descriptions below to describe the effects on the financial position of a business of the above...

Q:

1. An account is defined as a: a. Detailed record of increases or decreases in a specific asset, liability, or equity item b. Financial statement record that maintains customer information for a...

Q:

10 13 16 17 18 20 21 23 34 Cheid Moving to another will save the response Question 4 2 points On Max 1300 ABC Corporation Based on contre 80.000. AUC Corporation records de expense for this matte of...

Q:

Hotel and Restaurant Accounting Practice Tests This booklet contains self-graded practice tests for every chapter in Hotel and Restaurant Accounting, Eighth Edition. Chapter 1 Accounting: A...

Q:

financial accounting for SELF-STUDY QUESTIONS Anwers to Self Sauts Questions are at the end of this chapter.) 11.? Which of the following transactions does not affect the balance sheet totals?...

Q:

please just put the the question # and the correct letter answer. thanks! For each of the following questions, circle the answer that you feel is the best 1. When expenses are more than revenues for...

Q:

Choose only one answer for each question. 1. A company has $90,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. Experience suggests that...

Q:

Problem 1-2 True / False Questions If this problem is assigned as a homework turn-in, use the form in the Excel file Problem 1-2 Answer Sheet to record your answers. Highlight True or False for the...

Q:

Multiple Choice Questions 1. The purchase of an asset (like Equipment) on account will la increase total liabilities and decrease total assets. P. have no effect on total assets or total liabilities...

Q:

MS Enterprises produces three products X1, X2, and X3 from a joint production process. Data on the process are as follows: Required Determine the value for each lettereditem. Product X1 X2 X3 Total...

Q:

Male red-winged blackbirds have bright red patches on their shoulders (epaulets). Females prefer to mate with males with the largest epaulets. Researchers captured all of the male birds in a single...

Q:

% Par metros del algoritmo NP = 1 0 ; % Tama o de la poblaci n ( soluciones candidatas ) D = 1 0 ; % N mero de variables ( cada soluci n candidata es un vector de D dimensiones ) MAX _ GEN = 3 0 0 ;...

Q:

CT Corp Comprehensive Question Canadian Tire Corporation, Limited (Canadian Tire) is a family of companies that includes a retail segment and a financial services division, among others. The retail...

Q:

2. I am able to describe accurately the way others in the team are feeling.

Q:

Which team solution is more likely to be pursued and why?

Q:

4. I can tell when team members dont mean what they say.