Asked by
Hiulika Aonga
on Nov 12, 2024
Verified
In which of the following types of accounts are decreases recorded by credits?
A) liabilities
B) owner's equity
C) assets
D) revenues
Recorded By Credits
Recorded by Credits refers to accounting entries made on the credit side of an account, indicating an increase in liabilities, revenue, or equity, or a decrease in assets.
Decreases
A reduction in the quantity, size, or value of something.
- Familiarize oneself with the normal balance direction (debit or credit) pertaining to various account classifications.
Verified Answer
CS
Learning Objectives
- Familiarize oneself with the normal balance direction (debit or credit) pertaining to various account classifications.