PRC-1 · Chapter 1 · Question 54 of 100
In the double-entry bookkeeping system, a 'debit' entry is inherently used to record an increase in which of the following categories?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) Assets and Expenses
Explanation
According to the rules of debit and credit, an increase in an asset or an increase in an expense is always recorded as a debit entry.
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