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Which of the following is true about a "debit"?

I. It is part of the double-entry procedure that keeps the accounting equation in balance.
II. It represents an increase to assets.
III. It represents a decrease to liabilities.
IV. It is on the right side of a T-account.

Respuesta :

agustinsr99

Answer: The statements:

"I. It is part of the double-entry procedure that keeps the accounting equation in balance."

"II. It represents an increase to assets. "

"III. It represents a decrease to liabilities."

Are TRUE about debit.

"IV. It is on the right side of a T-account." is FALSE because Debit is on left side of a T-account.

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