Answered step by step
Verified Expert Solution
Question
1 Approved Answer
What is the difference between a debit and a credit in accounting? a ) Debits always decrease accounts and credits always increase accounts. b )
What is the difference between a debit and a credit in accounting?
a Debits always decrease accounts and credits always increase accounts.
b Credits always decrease accounts and debits always increase accounts.
c Debits are used for expenses and credits are used for revenue.
d There is no difference, they mean the same thing.?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started