Question
Which of the following statements is correct? Liability accounts are increased by credits. Assets accounts are increased by credits. Owners equity are increased by debits.
Which of the following statements is correct?
| Liability accounts are increased by credits. |
| Assets accounts are increased by credits. |
| Owners equity are increased by debits. |
| Owners equity are decreased by credits. |
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Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
5th edition
9780470418239, 470239808, 9780470239803, 470418230, 978-1118128169
