Which Statement Is NOT True

question 68

Multiple Choice

Which statement is NOT true?

• A)A credit increases a liability account.
• B)A debit increases an asset account
• C)Revenues are increased by a debit.
• D)Expenses are increased by a debit.

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Definitions:

Spain's Monopoly

Refers to the exclusive control and trade privileges Spain held over its overseas colonies, particularly in the Americas, during the 16th to 18th centuries.

Political Stability

The condition of a nation or state in which it operates effectively without significant civil disorder, government dysfunction, or political unrest.

Sir Walter Raleigh

An English adventurer, writer, and courtier of the late 16th and early 17th centuries, known for his exploration of America and attempts to establish colonies.