What Types of Account Balances Are Increased by Credits

question 1

Multiple Choice

What types of account balances are increased by credits?

• A) Liabilities and expenses
• B) Liabilities and revenues
• C) Revenues and expenses
• D) Owners' equity and expenses
• E) Assets and Liabilities

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Definitions:

Drill-down

The process of exploring detailed data by moving from high-level summaries to more detailed views, often used in reporting and data analysis.

Ad Hoc

A term describing solutions designed for a specific problem or task, without considering wider application.

Comparative

Relating to or involving the comparison of two or more entities to assess their similarities and differences.

Key Indicator

A quantitative metric that provides insight into the performance, health, or progress of a process, operation, or system.