An Important Rule of Debits and Credits Is

question 126

Multiple Choice

An important rule of debits and credits is:

• A)credits increase a revenue account.
• B)debits decrease an asset account
• C)revenues are increased by a debit.
• D)expenses are increased by a credit.

---

Definitions:

Product Defect

A flaw or fault in a product that could make it dangerous or fail to perform its intended purpose.

Ordinary Consumer

An average or typical user of goods or services, used as a standard in legal settings for consumer protection.

Expert Testimony

A form of evidence provided by an individual with specialized knowledge or expertise relevant to a particular case or issue.

Product Liability Suits

Legal claims brought against manufacturers, distributors, suppliers, or retailers for damages that consumers suffer because of defects in goods.