Credit Entries Are Used to

question 138

Multiple Choice

Credit entries are used to

• A)increase asset accounts.
• B)increase liability accounts.
• C)decrease revenue accounts.
• D)decrease liability accounts.

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Definitions:

Economic Problems

Issues related to the production, distribution, and consumption of goods and services, often resulting in unemployment, inflation, or recessions in a country's economy.

Confederacy

A federation of southern states that seceded from the United States from 1861 to 1865, leading to the American Civil War.

Paper Money

Currency made from paper that is officially issued by a government and circulated within its economy.

Wade-Davis Bill

Radical Republicans’ 1864 plan for Reconstruction that required loyalty oaths, abolition of slavery, repudiation of war debts, and denial of political rights to high-ranking Confederate officials; President Lincoln refused to sign the bill.