In Which of the Following Types of Accounts Are Increases

question 210

Multiple Choice

In which of the following types of accounts are increases recorded by debits?

• A) assets, liabilities
• B) dividends, liabilities
• C) expenses, liabilities
• D) assets, expenses

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Definitions:

Promises

Declarations or assurances that one will do something or that a particular thing will happen.

Subjective Intent

A legal concept focusing on what an individual personally intended to happen or believed would happen, rather than the objective outcome of their actions.

Contract

A legally enforceable agreement between two or more parties with mutual obligations.

Specific Time

A distinct and set point or period in time designated for an event or deadline.