Which of the Following Accounts Increase with a Credit

question 127

Multiple Choice

Which of the following accounts increase with a credit?

• A) capital stock, revenues, expenses
• B) assets, capital stock, revenues
• C) liabilities, capital stock, revenues
• D) retained earnings, capital stock, assets

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Definitions:

Void Contract

An agreement that is not legally binding because an essential element is missing.

Oral Agreement

An agreement made verbally without written documentation, enforceable only under specific circumstances and often harder to prove.

Infant

In legal terms, refers to a person who is under the age of majority, and thus limited in their legal capacity to contract or make decisions.

Defame

To damage someone's reputation, name, or character through false and malicious statements.