Which of the Following Accounts Increases with a Debit

question 176

Multiple Choice

Which of the following accounts increases with a debit?

• A)Cash
• B)Interest Payable
• C)Accounts Payable
• D)Owner,Capital

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Definitions:

Recessions

Periods of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in successive quarters.

Income Elasticity

A measure of how much the demand for a product or service changes in response to changes in consumer income.

Inferior Good

A type of good for which demand decreases as the income of individuals increases, opposite to normal goods.

Normal Good

A good for which demand increases when income increases, and falls when income decreases but price remains constant, showing a direct relationship between income and demand.