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In which of the following types of accounts are decreases recorded by debits?

In which types of accounts are decreases recorded as debits? The correct answer is C.

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Anonymous

Jan 14, 2025

The correct answer is CExplanation:Liabilities is the legal financial debts or the obligation of the company which arise during the course of the operations of the business.The debit increases the following accounts which are expense or the assets accounts. And decreases the equity, liability and revenue accounts. In other words, the accounts which are decreased through debits are the liabilities which involve Interest Payable, Notes Payable and Accounts Payable. And Stockholders' Equity which involve retained earnings and common stock.
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Business Management Banking

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Accounting Debits and Credits Financial Terms

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