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16. Which of, the following statements is false concerning the rules of debits and credits? * A. The left side of an account is always the debit side and the right side is always the credit side. B. Increases in assets and expenses are O debit entries, and increases in liabilities, equity and income are credit entries. C. The normal balance of any account appears on the side for recording increases. D. The term "debit" means to increase and the term "credit" means to decrease.

16. Which of, the following statements is false concerning the rules of debits and credits? * A. The left side of an account is always the debit side and the right side is always the credit side. B. Increases in assets and expenses are O debit entries, and increases in liabilities, equity and income are credit entries. C. The normal balance of any account appears on the side for recording increases. D. The term "debit" means to increase and the term "credit" means to decrease.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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16. Which of, the following statements is false concerning the rules of debits and credits? * A. The left side of an account is always the debit side and the right side is always the credit side. B. Increases in assets and expenses are debit entries, and increases in liabilities, equity and income are credit entries. C. The normal balance of any account appears on the side for recording increases. D. The term "debit" means to increase and the term "credit" means to decrease.
Transcribed Image Text:16. Which of, the following statements is false concerning the rules of debits and credits? * A. The left side of an account is always the debit side and the right side is always the credit side. B. Increases in assets and expenses are debit entries, and increases in liabilities, equity and income are credit entries. C. The normal balance of any account appears on the side for recording increases. D. The term "debit" means to increase and the term "credit" means to decrease.
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