Which of the Following Statements Regarding Accounts Is TRUE

question 100

Multiple Choice

Which of the following statements regarding accounts is TRUE?

• A)An asset is increased by a debit and decreased by a credit.
• B)Dividends are decreased by debits and increased by credits.
• C)A liability is increased by a debit and decreased by a credit.
• D)Revenue is increased by a debit; an expense is increased by a credit.

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Definitions:

American Consumers

Individuals or households in the United States engaging in the consumption of goods and services.

Natural Monopoly

A market structure where a single firm can supply a good or service to an entire market at a lower cost than could two or more firms due to economies of scale.

Economic Power

The capacity of an entity, whether a nation, corporation, or individual, to influence or control economic activities and outcomes.

CEO Compensation

The total remuneration package, including salary, bonuses, and stock options, offered to the chief executive officer of a corporation.