Examlex
Choose the one alternative that best completes the statement or answers the question.
Multiply. Assume all variables represent nonnegative real numbers.
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Debits
Entries on the left-hand side of an account that represent the increase in assets or expenses or a decrease in liabilities, equity, or income.
Credits
Accounting entries that increase liabilities or equity accounts, or decrease asset or expense accounts, recorded on the right side of a ledger.
Accounts
Records that summarize and classify all financial transactions of a business, including assets, liabilities, equity, revenue, and expenses.
Debt Ratio
A ratio indicating a company’s leverage by comparing its total debt to its total assets.
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