Which of the Following Statements Is Correct

question 109

Multiple Choice

Which of the following statements is correct?

• A) The left side of a T-account is the credit side.
• B) Entries that decrease asset and expense accounts, or increase liability, equity, and revenue accounts are posted as debits.
• C) The left side of a T-account is the debit side.
• D) The right side of a T-account is the debit side.
• E) Entries that increase asset, expense, and revenue accounts are posted as debits.

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Definitions:

Interest Revenue

Income received from investments in bonds, loans, or other interest-bearing instruments, representing the compensation for lending funds or capital.

Maturity Date

The specific date on which the principal amount of a bond, loan, or other financial instrument is scheduled to be repaid.

Issued

Referring to securities or documents that have been officially released or distributed by an entity.

Due Date

The specific date by which a task needs to be completed or a payment needs to be made.