Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 37 - No. 11)
What does a debit entry typically represent?
An increase in assets and a decrease in liabilities.
An increase in liabilities and a decrease in equity.
An increase in assets or a decrease in liabilities or equity.
A decrease in assets or an increase in liabilities or equity.
Explanation
Debits increase asset and expense accounts and decrease liability, owner's equity, and revenue accounts.
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