Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 7 - No. 31)
13. Which of the following entries are correct?
Cash and anythings of value coming into the business is a debit.
Cash and anythings of value leaving the business is a credit.
An increase in capital is a credit.
An increase in liabilities is a debit.
Explanation
An increase in liabilities is a credit.
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