Question

Which of the following group of accounts are increased with a debit?

	A	assets, liabilities, owner’s equity
	B	assets, drawing, expenses
	C	assets, revenues, expenses
	D	assets, liabilities, revenues

QUESTION 11

1. Which of the following group of accounts are increased with a debit?

   	A	assets, liabilities, owner’s equity
   	B	assets, drawing, expenses
   	C	assets, revenues, expenses
   	D	assets, liabilities, revenues

5 points   

QUESTION 12

1. Which of the following group of accounts increase with a credit?

   	A	Capital, revenues, expenses
   	B	Assets, capital, revenues
   	C	Liabilities, capital, revenues
   	D	None of these

QUESTION 15

1. A credit may signify a

   A		decrease in assets
   B		decrease in liabilities
   C		decrease in capital
   D		decrease in revenue

Answer 1

Question 11

Correct answer----------(B) assets, drawing, expenses

Assets, Drawings, and expenses have debit normal balances hence they increase with debits

Question 12

Correct answer----------(C) Liabilities, capital, revenues

Liabilities, Capital and Revenues have normal credit balances hence they increase by credit and decrease by debits

Question 15

Correct answer----------decrease in assets.

.

A credit increases revenue, liability as well as capital account. A credit will decrease an asset account as assets have debit balance and increase by debits