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Which of the following describes a debit? a A decrease b An increase c The right...

Which of the following describes a debit?

a

A decrease

b

An increase

c

The right side of an account

d

None of these
Business   Accounting   
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Homework Answers

Answer #1

1. Debit can increase or decrease the account balance depending on the type of the account. For example debit can increase asset balance and decrease liability balance. Similarly debit can increase expenses account balance and decrease income account balance. So it is not correct to say debit is an increase or a decrease. Hence Option a,b is not correct.

2. The right side of an account is credit. A debit is the left side of a T account. So option c is not correct.

3. Therefore correct option is d, None of these

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