Answered: Which of the following groups of…

Which of the following groups of accounts increase with a credit? a.common stock, revenues, expenses b.liabilities, common stock, revenues c.assets, common stock, revenues d.none of these

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 14DQ

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Which of the following groups of accounts increase with a credit?

a.common stock, revenues, expenses

b.liabilities, common stock, revenues

c.assets, common stock, revenues

d.none of these

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