Which of the following statements is true?
a. A debit increases an asset while a credit decrease an asset
b. A debit decreases an asset while a credit decrease an asset
c. A debit increases a liability and a credit decreases a liability
d. A debit increases revenues and a credit decreases revenues
e. None of these
Answer: a. A debit increases an asset while a credit decrease an asset
You might also like to view...
Which one of the following statements is NOT correct?
A) The DuPont system is based on two equations that relate a firm's ROA and ROE. B) The DuPont system is a set of related ratios that links the balance sheet and the income statement. C) Both management and shareholders can use this tool to understand the factors that drive a firm's ROE. D) All of the above are correct.
The most basic level upon which a product can be viewed is the ________, which addresses the question, "What fundamental benefit is the customer buying?"
A) actual product B) augmented product C) core benefit D) product design E) utility product