A Credit Entry

question 87

Multiple Choice

A credit entry

• A) increases asset and expense accounts, or decreases liability, equity, and revenue accounts
• B) Is recorded on the left side of a T-account
• C) Decreases asset and expense accounts, or increases liability, equity, and revenue account
• D) Decreases asset, expense and revenue accounts.
• E) Increases the withdrawals account

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Definitions:

Accruing Interest

Interest that accumulates over time on the principal amount of a loan or deposit.

Business Practices Act

Legislation designed to ensure fair competition and regulate ethical conduct among businesses within a jurisdiction.

Violation

The act of disobeying or infringing a law, rule, agreement, or code of conduct.

Provincial Legislation

Laws and regulations enacted by the legislative authority of a province or territory within a federal system of government.