gress Credits decrease both assets and liabilities. increase both assets and liabilities. decrease assets and increase liabilities. increase assets and decrease liabilities.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 17 of 42
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Credits
decrease both assets and liabilities.
increase both assets and liabilities.
decrease assets and increase liabilities.
O increase assets and decrease liabilities.
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Transcribed Image Text:WP NWP Assessment Player UI Applic Question 17 of 42 View Policies Current Attempt in Progress Credits decrease both assets and liabilities. increase both assets and liabilities. decrease assets and increase liabilities. O increase assets and decrease liabilities. Save for Later
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Which one of the following is not a part of an account?
Debit side
Title
Trial balance
O Credit side
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Transcribed Image Text:Edit View History Bookmarks Window Help A educa WP Exam 1 WP NWP Assessment Player UI Application Question 16 of 42 View Policies Current Attempt in Progress Which one of the following is not a part of an account? Debit side Title Trial balance O Credit side Save for Later
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Provision

There are two components involved while passing an accounting entry, they are

  • Debits
  • Credits
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