Accounting - 4. Transactions for A, L, & OE

"Debit" means the increase side of an  account.

• True
• False

A credit to a liability account decreases the account balance.

• True
• False

Assets are increased on the debit side.

• True
• False

Capital is increased on the credit side.

• True
• False

Liabilities are decreased on the credit side.

• True
• False

The normal balance side for Accounts Receivable is

• Debit
• Credit

The basic accounting equation may be expressed as A = L+OE.

• True
• False

The right side of a T account is always the debit side.

• True
• False

For every debit there must be an equal credit.

• True
• False

The normal balance side for an asset account is the debit side.

• True
• False