Which of the following statements best describes Debits and Credits?

a.

A debit is an increase in revenue or a decrease in expenses and a credit is a decrease in revenue and an increase in expenses entry

b.

A debit is an increase in an asset or a decrease in a liability, and a credit is an increase in a liability and a decrease in an asset

c.

A debit is an increase in shareholders equity, and a credit is a decrease in shareholders equity

d.

A debit is an increase in a liability or a decrease in an asset, and a credit is an increase in an asset or a decrease in a liability