Which of the following is not an asset account? cash O prepaid expense O accrued expense accrued revenue Which of these rules is incorrect? O Credits decrease the asset account O Debits increase the capital account Credits increase liability accounts O Debits decrease liability accounts

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Which of the following is not an asset
account?
O cash
O prepaid expense
accrued expense
accrued revenue
Which of these rules is incorrect?
O Credits decrease the asset account
Debits increase the capital account
Credits increase liability accounts
O Debits decrease liability accounts
Transcribed Image Text:Which of the following is not an asset account? O cash O prepaid expense accrued expense accrued revenue Which of these rules is incorrect? O Credits decrease the asset account Debits increase the capital account Credits increase liability accounts O Debits decrease liability accounts
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