Which of the Following Statements Regarding Accounts Is False

question 8

Multiple Choice

Which of the following statements regarding accounts is false?

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

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Definitions:

Reasoning

The process of thinking about something in a logical way in order to form a conclusion or judgment.

Critical Thinking

The objective analysis and evaluation of an issue to form a judgment.

Analytical

Relating to or using analysis or logical reasoning to address a problem or dissect a concept.

Evaluative

Concerned with assessing or judging the value, significance, or condition of something.