Which of the Accounts Are Decreased on the Debit Side

question 97

Multiple Choice

Which of the accounts are decreased on the debit side and increased on the credit side?

• A)Liabilities,stockholders' equity,and revenues.
• B)Dividends,liabilities,and assets.
• C)Expenses,dividends,and stockholders' equity.
• D)Assets,dividends,and expenses.

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Definitions:

Sales Price Variance

The difference between the actual sales price of a product and its expected (or standard) sales price.

Sales Volume Variance

The difference between the actual quantity sold and the budgeted quantity sold, multiplied by the standard selling price per unit.

Purchasing Department

The division within a company responsible for acquiring goods and services necessary for the business operations.

Price Paid

The total monetary expenditure incurred to acquire a product or service, which includes the purchase price and any additional costs.