An important rule in a double-entry accounting system includes: a. Increases in equity accounts always result in

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An important rule in a double-entry accounting system includes:

a. Increases in equity accounts always result in a decrease to a liability account

b. Equity accounts and liability accounts are always credited, assets are always debited

c. Liabilities are always decreased through a debit to equity

d. Increases in assets are debited to asset accounts, decreases in assets are credited to asset accounts

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Fundamental Accounting Principles Volume I

ISBN: 978-1260305821

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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