Asked by
kiley adams
on Nov 15, 2024
Verified
Assets are decreased with a credit.
Assets
Assets are resources owned by a business or individual that have economic value and can be converted into cash or provide future benefits.
Decreased
A reduction in size, number, or amount of something from a previous level.
Credit
A financial agreement where a borrower receives something of value now and agrees to repay the lender at a future date.
- Discern the customary balances for a range of account categories (assets, liabilities, equity).
Verified Answer
ED
Learning Objectives
- Discern the customary balances for a range of account categories (assets, liabilities, equity).