Which of the Following Abbreviations Is Correct

question 208

Multiple Choice

Which of the following abbreviations is correct?

• A) Debit, "Dr"; Credit, "Cd"
• B) Debit, "Db"; Credit, "Cr"
• C) Debit, "Db"; Credit, "Cd"
• D) Debit, "Dr"; Credit, "Cr"

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Definitions:

Retires

The act of leaving one's job and ceasing to work, typically due to reaching a certain age or for health reasons.

Liability on Debts

The legal responsibility to pay money owed to creditors, either by an individual or a company.

Capital Contribution

Funds or assets provided by investors or partners to a company or partnership to support its operations and growth.

Partnership Assets

Properties or resources owned by a partnership that are used for the purpose of carrying on the partnership business.