Which of the Following Statements Regarding Accounts Is Incorrect

question 46

Multiple Choice

Which of the following statements regarding accounts is incorrect?

• A) Revenue is increased by a credit and an expense is increased by a debit.
• B) A liability is decreased by a debit and increased by a credit.
• C) Revenue is increased by a debit and an expense is increased by a credit.
• D) An asset is increased by a debit and decreased by a credit.

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Definitions:

Debriefing

A process of receiving an explanation and targeted feedback regarding a completed task or performance.

Exerting Authority

The act of applying one's power or control over others in a formal or informal setting to enforce rules or decisions.

Well-Liked Leader

A leader who is respected and admired by their peers and subordinates, often due to their ability to inspire, listen, and empathize.

Turnover

The rate at which employees leave a workforce and are replaced, indicating the stability or volatility of employment within an organization.