Which One of the Following Account Groups Will Decrease with a Debit

question 85

Multiple Choice

Which one of the following account groups will decrease with a debit?

• A) assets and expenses
• B) revenues and expenses
• C) liabilities and revenues
• D) assets and liabilities

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Definitions:

Cash Equivalent

Short-term, highly liquid investments that are readily convertible to known amounts of cash and are subject to insignificant risk of changes in value.

Money Market

A section of the financial market where short-term funds are borrowed and lent, involving instruments like treasury bills and commercial paper.

Cash on Hand

The total amount of any accessible cash or near-cash assets, such as money in checking or savings accounts, at any given time.

Negotiable Checks

Negotiable checks are financial instruments that allow the person in possession of the check to transfer the claim for payment to another party.