A Business Uses a Credit to Record

question 124

Multiple Choice

A business uses a credit to record:

• A)An increase in an expense account.
• B)A decrease in an asset account.
• C)A decrease in an unearned revenue account.
• D)A decrease in a revenue account.
• E)A decrease in a capital account.

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Definitions:

Codicil

A document that amends or adds to an existing will, allowing for changes without the need to draft a new will entirely.

Executed

Completed or carried out; in legal terms, it refers to a document or agreement that has been signed and made effective.

Testators

Individuals who have made a will or testament in preparation for their death.

Property

Assets owned by an individual or entity, including both tangible items like real estate and cars, and intangible items like intellectual property.