e https://newconnect.mh /connect.html Saved MC Qu. 96 Identify the statement bel

Question

e https://newconnect.mh /connect.html Saved MC Qu. 96 Identify the statement below that is correct. dentify the statement below that is correct Multiple Choice The left side of a T-account is the credit side In certain circumstances the total amount debited need not equal the total amount credited for a particular Debits decrease asset and expense accounts, and increase liability, equity, and revenue accounts Credits increase asset and expense accounts, and decrease liability, equity, and revenue accounts. The left side of a Taccount s the debt side

Explanation / Answer

Answer :

Left side of T-Accounts is the debit side.

Explanation.

why remaining are incorrect

1. Right side of T-accounts is the credit Side.

2. In double entry system of accounts debit need to be equal to credit. never debit cann't be equal credit.

3. Debit increases assets and expenses , decreases liability, equity and revenue accounts.

4.Credit decreases assets and expenses , increases liability, equity and revenue accounts

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