Asked by

Nikhil Gupta
on Nov 12, 2024

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Which of the following groups of accounts increases with a credit?

A) capital, revenues, expenses
B) assets, capital, revenues
C) liabilities, capital, revenues
D) None of these choices

Liabilities

Financial obligations or debts that a business owes to others, which must be settled over time through the transfer of economic benefits.

Capitals

Financial assets or the financial value of assets, such as cash and securities, owned by a business.

Revenues

The income generated from normal business operations and includes discounts and deductions for returned merchandise.

  • Ascertain the accounts that are expanded by debits and reduced by credits.
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Verified Answer

EA
Emmanuel Adam JuniorNov 18, 2024
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