7. Bookmark question for later How are revenues typically recorded with debits and credits? A debit, representing a reduction in equity A credit, representing an increase in equity A credit, representing a reduction in assets A debit, representing an increase in assets 8. Bookmark question for later Why are dividends recorded with debits? They represent an equity increase. They represent an asset increase. They represent a liability decrease. They represent an equity decrease. 9. Bookmark question for later What is the proper way to record a decrease in an asset account and a decrease in a liability account? Asset, debit; liability, debit Asset, credit; liability, credit Asset, debit; liability, credit Asset, credit; liability, debit 10. Bookmark question for later How are expenses typically recorded with debits and credits? A debit, representing a reduction in equity A credit, representing a reduction in assets A credit, representing an increase in equity A debit, representing an increase in assets