Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 26 - No. 41)
What does a 'debit' entry represent in double-entry bookkeeping?
A decrease in assets or an increase in liabilities and equity.
An increase in assets or a decrease in liabilities and equity.
An increase in liabilities or equity.
A decrease in assets.
Explanation
Debits typically increase asset and expense accounts and decrease liability, owner's equity, and revenue accounts.
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