Answered

Which of the following is a correct rule of debits and credits?
Oa. Liabilities, revenues, and owner's equity are increased by credits.
b. Assets are decreased by credits and have a normal debit balance.
O c.
c. Assets, expenses, and drawings are increased by debits.
Od. All of these choices.



Answer :

GinnyAnswer

Final answer:

Debits increase assets, expenses, and drawings in accounting.


Explanation:

Debits and Credits are fundamental concepts in accounting. Debits increase assets or expenses and decrease liabilities or net assets, while credits increase liabilities or net assets and decrease assets or expenses. The key is that Assets, expenses, and drawings are increased by debits.


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