Examlex
For the following scores,which of the following actions will increase the range? Scores: 3,7,10,15
Credits
Accounting entries that increase liability or equity accounts, or decrease asset or expense accounts.
Liabilities
Financial obligations or debts that a company owes to others, which must be settled over time through the transfer of assets, provision of services, or other means.
Debits
Accounting entries that result in an increase in assets or expenses and a decrease in liabilities, equity, or income.
Credits
In accounting, credits are entries that decrease assets or increase liabilities and equity on a company's balance sheet.
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