Which of the following groups of accounts is increased with a debit?

A) assets, liabilities, owner's equity
B) assets, drawing, expenses
C) assets, revenues, expenses
D) assets, liabilities, revenues

Question

Which of the following groups of accounts is increased with a debit?A)  assets, liabilities, owner's equityB)  assets, drawing, expensesC)  assets, revenues, expensesD)  assets, liabilities, revenues

Hamad Alghunaim · Accepted Answer

Final Answer : B, Explanation :  The accounts that are increased with a debit are assets, drawing, and expenses. This means that when a transaction involves any of these accounts, it should be debited to increase the balance. Option A is incorrect because owner's equity is increased with a credit. Option C is incorrect because revenues are also increased with a credit. Option D is incorrect because liabilities and revenues are both increased with a credit.

Which of the following groups of accounts is increased with a debit?

A) assets, liabilities, owner's equity
B) assets, drawing, expenses
C) assets, revenues, expenses
D) assets, liabilities, revenues

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