Examlex
Which test published by CTB McGraw-Hill combines selected-response and constructed-response items?
Credits
Entries in the accounting system that can decrease assets or increase liabilities and equity on a company’s balance sheet, reflecting the decrease in the company's resources or increase in claims against those resources.
Normal Balance
The side of an account where increases are recorded, which is the debit side for assets and expenses, and the credit side for liabilities, equity, and revenue.
Rent Expense
An expense account that records the cost incurred by a business to utilize property or equipment for operations.
Debit
An accounting entry that increases an asset or expense account, or decreases a liability or equity account, reflected on the left side of an account.
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