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Match Each Term with the Correct Statement Below

question 36

Multiple Choice

Match each term with the correct statement below.
-The overall process for achieving your goals.


Definitions:

Debit Postings

Accounting entries that increase an asset or expense account, or decrease equity, liability, or revenue accounts.

Credit Postings

Entries that increase liabilities, revenue, or equity accounts, or decrease asset or expense accounts.

T Account

A skeleton version of a standard account, used for demonstration purposes.

Debit Side

The left side of an account in double-entry bookkeeping, used to record increases in assets and expenses or decreases in liabilities and equity.

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