Examlex
MATCHING
Identify the letter of the choice that best matches the phrase or definition.
-The practice of copying a file from a remote computer to a local computer
Credit
An accounting entry that either increases a liability or equity account, or decreases an asset or expense account. It is also used in banking to denote a positive balance.
Debits
Financial entries that represent an increase in assets or expenses or a decrease in liabilities, equity, or income on a company's balance sheet or income statement.
Credits
Entries in the accounting system that can decrease assets or increase liabilities and equity on a company’s balance sheet, reflecting the decrease in the company's resources or increase in claims against those resources.
Normal Balance
The side of an account where increases are recorded, which is the debit side for assets and expenses, and the credit side for liabilities, equity, and revenue.
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