Which of the Following Groups of Accounts Is Increased with a Debit

question 91

Multiple Choice

Which of the following groups of accounts is increased with a debit?

• A) assets, liabilities, owner's equity
• B) assets, drawing, expenses
• C) assets, revenues, expenses
• D) assets, liabilities, revenues

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Definitions:

Business Operations

Encompasses all the activities and tasks that a business engages in on a day-to-day basis to run smoothly and efficiently, delivering goods or services to customers.

Essentials

Fundamental elements or components necessary for the basic functioning or success of a system, organization, or activity.

Succession Plan

A strategy for identifying and developing new leaders who can replace old leaders when they leave, retire, or die, to ensure organizational continuity.

Retirement Contingency

A plan or preparation for potential variables or unforeseen events that may affect one's retirement.