Which Pair of Accounts Follows the Rules of Debit and Credit

question 88

Multiple Choice

Which pair of accounts follows the rules of debit and credit in relation to increases and decreases in the same manner?

• A)Dividends Payable and Rent Expense
• B)Utilities Expense and Notes Payable
• C)Prepaid Insurance and Advertising Expense
• D)Service Revenue and Equipment

---

Definitions:

Association

An organized group of people who share a common interest, activity or purpose.

Estate

represents a person's net worth, including all property, possessions, and financial assets, often considered in the context of wills and inheritance.

Written Consent

A documented agreement that shows a party has explicitly agreed to an action or decision, often required to validate contracts or decisions.

General Partner

A member of a partnership responsible for day-to-day operations and liable for debts and obligations of the partnership.