Identify the statement below that is correct. A. The left side of a T-account is the...
Identify the statement below that is correct.
| A. |
The left side of a T-account is the credit side. |
|
| B. |
Debits decrease asset and expense accounts, and increase liability, equity, and revenue accounts. |
|
| C. |
The left side of a T-account is the debit side. |
|
| D. |
Credits increase asset and expense accounts, and decrease liability, equity, and revenue accounts. |
|
| E. |
In certain circumstances the total amount debited need not equal the total amount credited for a particular transaction. |
Homework Answers
| Option C is the answer | ||
|
The left side of a t account is debit side whereas right side is credit side Assets and expenses increase with debit. Debits must equal credits no matter what ;) |
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