Debit and Credit Rules Flashcards
1
Q
How is EQUITY increased?
A
Credit
1
Q
How is REVENUE decreased?
A
Debit
2
Q
How is an ASSET decreased?
A
Credit
2
Q
How is EQUITY decreased?
A
Debit
2
Q
How is CAPITAL decreased?
A
Debit
3
Q
How is INCOME decreased?
A
Debit
4
Q
How is REVENUE increased?
A
Credit
6
Q
How is INCOME increased?
A
Credit
7
Q
How is an EXPENSE increased?
A
Debit
8
Q
How are EXPENSES decreased?
A
Credit
10
Q
How is an ASSET increased?
A
Debit
12
Q
How is a LIABILITY increased?
A
Credit
13
Q
How is CAPITAL increased?
A
Credit
14
Q
How is LIABILITY decreased?
A
Debit
