which of the following increases when debited? liabilities assets revenue
which of the following increases when debited? liabilities assets revenue
Answer
Brief Explanations:
In accounting, the basic accounting equation is Assets = Liabilities + Equity. The rules of debit and credit state that assets increase on the debit side. Liabilities increase on the credit side. Revenue (which is part of equity) also increases on the credit side. So, when an asset account is debited, its balance increases.
Answer:
B. assets