Quiz 2 ( debits and credits) Flashcards
1
Q
What increases assets
A
Debit
2
Q
What decreases assets
A
Credit
3
Q
What increases liabilities
A
Credit
4
Q
What decreases liabilities
A
Debit
5
Q
What increases the capital
A
Credit
6
Q
What decreases the capital
A
Debit
7
Q
What increases revenue
A
Credit
8
Q
What decreases revenue
A
Debit
9
Q
What increases expenses
A
Debit
10
Q
What decreases expenses
A
Credit
11
Q
What increases withdrawals
A
Debit
12
Q
What decreases withdrawals
A
Credit
13
Q
the balance side is
A
always the increase side of any account
