Debit Entries Are Used to

question 143

Multiple Choice

Debit entries are used to

• A)increase asset accounts.
• B)decrease expense accounts.
• C)increase liability accounts.
• D)increase revenue accounts.

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Definitions:

Checking Account

A bank account that allows the account holder to make deposits, withdrawals, and write checks against available funds.

National Guard

A reserve military force composed of state National Guard militia members or units under federally recognized active or inactive armed force service.

Livestock

Domesticated animals raised in an agricultural setting to produce commodities such as food, fiber, and labor.