Which of the Following Rules Is Incorrect

question 59

Multiple Choice

Which of the following rules is incorrect?

• A) The accounting equation must always remain in balance.
• B) Asset accounts are increased by debit entries and decreased by credit entries.
• C) Expense accounts normally have debit balances.
• D) Common stock accounts are increased by debit entries and decreased by credit entries.

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Definitions:

Genus

A classification in biological taxonomy that ranks above species and below family, grouping species that share common characteristics.

Concept

A general idea or understanding that is formulated in the mind.

Species

In biological classification, it refers to the basic unit of classification, defined as groups of organisms capable of interbreeding and producing fertile offspring.

College Course

A unit of teaching that typically covers a specific subject area in a higher education institution, often forming part of a larger program of study.