Which Pair of Accounts Follows the Rules of Debit and Credit

question 29

Multiple Choice

Which pair of accounts follows the rules of debit and credit in the opposite manner?

• A) Fixed Assets and Dividends
• B) Advertising Expense and Equipment
• C) Dividends and Medical Fees Earned
• D) Rent Payable and Common Stock

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Definitions:

Partnership Assets

Assets owned by a partnership, which are used in the operation of the business and are subject to the rights and interests of the partners.

Debts

Money that is owed or due to another individual or entity.

Partnership

A partnership is a legal form of business operation between two or more individuals who share management and profits. The specific rules can vary depending on the agreement and the jurisdiction.

Profits Share

An agreement or policy where a portion of a company's profits is distributed to employees, shareholders, or partners.