Chapter 2: Concepts (Debits & Credits) Flashcards by Mitchy West | Brainscape

Q

assets

A

Normal debit increase. Credit decrease.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

liabilities

A

Debit decrease. Normal credit increase.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

owner’s capital account

A

Debit decrease. Normal credit increase.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

owner’s drawing account

A

Normal debit increase. Credit decrease.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

revenue

A

Debit decrease. Normal credit increase.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

expense

A

Normal debit INCREASE. Credit DECREASE.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly