A Credit Decreases the Balance of Which Types of Accounts

question 43

Multiple Choice

A credit decreases the balance of which types of accounts?

• A) expenses and assets
• B) liabilities and expenses
• C) assets and liabilities
• D) assets and shareholders' equity

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Definitions:

Hydrogen

The lightest and most abundant chemical element in the universe, consisting of just one proton and often one electron.

Potassium Hydroxide

A strong base used in industry and research that is highly reactive with acids and capable of causing severe burns.

Base

In chemistry, a base is a substance that can accept protons (H+) from acids or donate a pair of valence electrons to form a bond, and it often has a high pH when dissolved in water.

Dissociates

Refers to the process by which molecules or ionic compounds split into smaller particles, often ions, in solution.