Balances 8

Question 1

2 normal balances

Answer 1

Credit and debit

Question 2

If asset

Answer 2

Increase in debit decrease in credit

Question 3

If liability

Answer 3

Increase in credit
Decrease in debit

Question 4

If capital

Answer 4

Increase in credit
Decrease in
Debit

Question 5

If drawing accounts

Answer 5

Increase in debit
Decrease in credit

Question 6

If revenue

Answer 6

Increase in credit
Decrease in debit

Question 7

If expenses

Answer 7

Increase in debit
Decrease in credit