Final answer:
Debits increase account balances, credits are on the right side of an account, and credits decrease account balances.
Explanation:
A true statement about debits and credits:
- Debit always increases an account balance: When a debit is made, it increases an asset or expense account or decreases a liability or net assets account.
- Credit is on the right side of an account: Credits are always on the right side of the account entry and increase a liability or net assets account or decrease an asset or expense account.
- Credit always decreases an account balance: Credits reduce asset or expense accounts or increase liability or net assets accounts.
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