A Debit Entry

question 143

Multiple Choice

A debit entry

• A)increases assets.
• B)increases expenses.
• C)decreases liabilities.
• D)all of these.

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Definitions:

Involuntary Dissolution

The forced termination of a corporation or partnership by external action, often by government order.

Insolvent

The state of being unable to pay debts owed, with liabilities exceeding assets.

Fraudulently

Fraudulently means acting in a way intended to deceive or cheat, typically for personal or financial gain.

Target Corporation

An American retail corporation that operates large-format stores selling a wide variety of goods including household essentials, electronics, and apparel.