Skip to main content

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

The correct answer is C

1 Answers

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.... Show More

Want to answer this question?

Join our community to share your knowledge!

Categories

Tags

Related Questions

5
In which one of the following sentences is but used as a preposition?

A. I wanted to leave, but I was embarrassed to do so. B. The lake is pretty, but it's too cold for swimming. C. I would...

10
In which phase of mitosis are chromosomes first seen as a result of chromatin coiling?

In which phase of mitosis are chromosomes first seen as a result of chromatin coiling?

7
In which sentence is the literary device litotes used?

In which sentence is the literary device litotes used? he did not know where this road led. he disagreed with the coach’...

5
In which step of translation does the trna become charged?

In which step of translation does the trna become charged?

10
In which type of learning do organisms learn the association between two stimuli?

Classical conditioning in learning is also known as Pavlovian and Respondent Conditioning. It is a learning process that...