According to the Rules of Debit and Credit for Balance

question 128

Multiple Choice

According to the rules of debit and credit for balance sheet accounts:

• A) Increases in asset, liability, and owners' equity accounts are recorded by debits.
• B) Decreases in asset and liability accounts are recorded by credits.
• C) Increases in asset and owners' equity accounts are recorded by debits.
• D) Decreases in liability and owners' equity accounts are recorded by debits.

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