Identify the statement below that is correct:

A. Debits decrease asset and expense accounts, and increase liability, equity, and revenue accounts.
B. The left side of a T-account is the credit side.
C. The total amount debited need not equal the total amount credited for a particular transaction.
D. The left side of a T-account is the debit side.
E. Credits increase asset and expense accounts, and decrease liability, equity, and revenue accounts.


Answer: D

Business

You might also like to view...

Which of the following frauds is most common?

a. Chief financial officer misappropriation of funds. b. Misapplication of revenue recognition principles. c. Management's theft of cash held in reserve accounts. d. Over-recording expenses related to stock options.

Business

Which of the following is NOT true of a scatter diagram?

A) It plots data pairs in an x- and y-axis graph. B) It will portray the amount of covariation between two metric variables. C) It plots the points corresponding to each matched pair of x and y variables. D) When there is no apparent association or relationship between two variables, the points on a scatter diagram fail to create any identifiable pattern. E) There is no relationship between scatter diagrams and correlation coefficients.

Business

Full truckload carriers are often contracted for transporting ______.

A. food and perishable items B. liquids (e.g., oils) C. nonregulated goods D. packages for different destinations

Business

Temporal aggregation ______.

a. will reduce transportation costs b. will increase the firm’s responsiveness c. will eliminate the need for quality control d. will increase the need for cross-docking

Business