An Important Rule of Debits and Credits Is

question 54

Multiple Choice

An important rule of debits and credits is:

• A)credits increase revenue accounts.
• B)debits decrease asset accounts.
• C)debits increase liability accounts.
• D)credits increase expense accounts.

---

Definitions:

Creates Wealth

The process of generating assets and increasing the economic value for an individual, community, or country.

Recycle

The process of converting waste materials into new materials and objects, aiming to reduce resource consumption, environmental pollution, and energy usage.

Private Property Rights

Legal entitlements that grant individuals or entities exclusive use, control, and disposal of properties and assets.

Wealth Creating

The process of generating financial gain through investment, business ventures, or other methods that increase an individual's or entity's assets.