m/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession

Question

m/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionlocator; Click to watch the Tell Me More Learning Objective 2 video and then answer the questio 1. Assets and liabilities increase by a. debit and debit b. credit and credit c. debit and credit d. credit and debit respectively. 2. Assets and owner's equity decrease byrespectively. a. debit and debit b. credit and credit c. debit and credit d. credit and debit 3. Revenue and expenses increase byrespectively. a. debit and debit b. credit and credit c. debit and credit d. credit and debit 4. The normal halanres for an asset account is and for an exnense accorint is All work saved

Explanation / Answer

1. Ans is C ie Asset is Increased by Debit and Expenses increased by Credit

2 Ans is D ie Asset is decreased by Credit and Owners equity decresed by Debit

3 Ans is D ie Revenue is Increased by Credit and Expenses increased by Debit

4 Ans is A ie Normal balances of an Asset is Debit and Normal balances of Expenses also Debit

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.