In Accordance with the Debit and Credit Rules, Which of the Following

question 123

Multiple Choice

In accordance with the debit and credit rules, which of the following is true?

• A) Debits increase assets.
• B) Credits increase assets.
• C) Debits increase both assets and capital.
• D) Credits increase both assets and liabilities.

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Definitions:

Federal

Pertaining to the central government of a country, rather than state, local, or provincial authorities.

State

A politically organized body of people under a sovereign government, recognized within a certain territorial area.

Local Laws

Regulations and ordinances that are established and enforced by local government bodies.

Mental Disease

A disorder that affects a person's thinking, emotional state, and behavior, disrupting their ability to work or carry out other daily activities.