QUESTION 47 When a company records a debt, which type of account is credited? O A. retained earnings . expense O C. asset D. liability QUESTION 48 When amounts from the journal are copied to the appropriate ledger accounts, it is referred to as O A. journalizing. O B. balancing. OC. processing. D. posting. QUESTION 49 Which of the follow describes a liability: O A. future economic benefits O B. accounts receivable O C. owner's equity D. economic obligations to creditors QUESTION 50 Which of the following statements is true? O A. Expenses are decreased by debits. O B. Liabilities are decreased by credits. C. Revenues are increased by credits. O D. Assets are decreased by debits