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increases assets and stockholders’ equity.
increases assets and liabilities.
increases assets and decreases stockholders’ equity.
leaves total assets unchanged.
Question 10
A revenue account
has a normal balance of a debit.
is decreased by credits.
is increased by credits.
is increased by debits.
Question 11
Which accounts normally have debit balances?
Assets, expenses, and dividends
Assets, expenses, and revenues
Assets, expense, and retained earnings
Assets, liabilities, and dividends
Question 12
In recording an accounting transaction in a double-entry
system
the number of debit accounts must equal the number of credit
accounts.
there must only be two accounts affected by any transaction.
there must always be entries made on both sides of the