Examlex
Which two of the following make up the crucial elements of the business model?
Debits
Entries on the left side of an account ledger, indicating an increase in assets or expenses or a decrease in liabilities, equity, and revenue.
Credits
Accounting entries that increase liabilities or equity or that decrease assets, representing the opposite of debits.
Debits
Entries on the left side of an accounting ledger, representing increases in assets or expenses or decreases in liabilities, equity, and revenue.
Credits
Accounting entries that increase liabilities or equity or decrease assets, typically found on the right-hand side of an accounting ledger.
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