Which of the following is true about a "debit"? a) It is part of the double-entry procedure that keeps the accounting equation in balance. b) It represents an increase to assets. c) It represents a decrease to liabilities. d) It is on the right side of a T-account.

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Business

Skylar

1 January, 23:09

Which of the following is true about a "debit"? a) It is part of the double-entry procedure that keeps the accounting equation in balance. b) It represents an increase to assets. c) It represents a decrease to liabilities. d) It is on the right side of a T-account.

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Answers (1)

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Claire Hancock · Answer 1

The correct answers are A, B and C.

Explanation:

The word debit refers to debt, that is, at the request of accounting, it includes that numerical entry that is made in the account, in the "must", that is, on the left side and that represent assets or rights owned by the person or the company in question. It can increase the balance of a liability, or failing that, implies a decrease in the balance of an asset.