Final Summer Class

A debit is an entry on the right-side of a T-account.

• True

• False

A credit is always an increase to any account.

• True

• False

A debit causes an asset to increase

• True

• False

The normal balance of a credit is a liability. A credit causes a liability to increase.

• True

• False

The ________ _________ groups the activities of each account together and records the updated balance of each account

• General Account

• General Ledger

• General Asset

• Celine Dion

What increases an expenses?

• A debit

• A credit

To decrease an account payable, you would

• Debit Accounts Payable

• Credit Accounts Payable

• What the finance

To increase accounts payable you would

• Debit accounts receivable

• Credit accounts receivable

• What the finance

Cash has a normal balance of a credit

• True

• False