Term
According to the Rules of Debits and Credits:
Asset accounts always increase with a ________ (debit/credit). |
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Definition
According to the Rules of Debits and Credits:
Asset accounts always increase with a DEBIT. |
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Term
According to the Rules of Debits and Credits:
Expense accounts always increase with a ________ (debit/credit). |
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Definition
According to the Rules of Debits and Credits:
Expense accounts always increase with a DEBIT. |
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Term
According to the Rules of Debits and Credits:
Liability accounts always increase with a ________ (debit/credit). |
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Definition
According to the Rules of Debits and Credits:
Liability accounts always increase with a CREDIT. |
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Term
According to the Rules of Debits and Credits:
Contra-Asset accounts always increase with a ________ (debit/credit). |
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Definition
According to the Rules of Debits and Credits:
Contra-Asset accounts always increase with a CREDIT. |
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Term
According to the Rules of Debits and Credits:
Dividend accounts always increase with a ________ (debit/credit). |
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Definition
According to the Rules of Debits and Credits:
Dividend accounts always increase with a DEBIT. |
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Term
According to the Rules of Debits and Credits:
Revenue accounts always increase with a ________ (debit/credit). |
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Definition
According to the Rules of Debits and Credits:
Revenue accounts always increase with a CREDIT. |
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Term
According to the Rules of Debits and Credits:
Retained Earnings accounts always increase with a ________ (debit/credit). |
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Definition
According to the Rules of Debits and Credits:
Retained Earnings accounts always increase with a CREDIT. |
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Term
According to the Rules of Debits and Credits:
Preferred Stock and Common Stock accounts always increase with a ________ (debit/credit). |
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Definition
According to the Rules of Debits and Credits:
Preferred Stock and Common Stock accounts always increase with a CREDIT. |
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Term
According to the Rules of Debits and Credits:
Treasury Stock accounts always increase with a ________ (debit/credit). |
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Definition
According to the Rules of Debits and Credits:
Treasury Stock accounts always increase with a DEBIT. |
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Term
Cash is a/an ___________,
so it increases with a ____________. |
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Definition
Cash is an ASSET,
so it increases with a DEBIT. |
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Term
Cost of Goods Sold is a/an ___________,
so it increases with a ____________. |
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Definition
Cost of Goods Sold is an EXPENSE,
so it increases with a DEBIT. |
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Term
Accounts Payable is a/an ___________,
so it increases with a ____________. |
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Definition
Accounts Payable is a LIABILITY,
so it increases with a CREDIT. |
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Term
Sales is a/an ___________,
so it increases with a ____________. |
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Definition
Sales is a REVENUE,
so it increases with a CREDIT. |
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Term
Allowance for Bad Debt is a/an ___________,
so it increases with a ____________. |
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Definition
Allowance for Bad Debt is a CONTRA-ASSET,
so it increases with a CREDIT. |
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Term
Property, Plant, and Equipment is a/an ___________,
so it increases with a ____________. |
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Definition
Property, Plant, and Equipment is an ASSET,
so it increases with a DEBIT. |
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Term
Warranties Payable is a/an ___________,
so it increases with a ____________. |
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Definition
Warranties Payable is a LIABILITY,
so it increases with a CREDIT. |
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Term
Fees Earned is a/an ___________,
so it increases with a ____________. |
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Definition
Fees Earned is a REVENUE,
so it increases with a CREDIT. |
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Term
Allowance for Decline in ShortTerm Investments is a/an ___________,
so it increases with a ____________. |
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Definition
Allowance for Decline in ShortTerm Investments is a CONTRA-ASSET,
so it increases with a CREDIT. |
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Term
Accumulated Depreciation is a/an ___________ for _____________,
so it increases with a ____________. |
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Definition
Accumulated Depreciation is a CONTRA-ASSET for LONG-TERM ASSETS,
so it increases with a CREDIT. |
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Term
| Accumulated Depletion is a/an ___________ for _____________, so it increases with a ____________. |
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Definition
| Accumulated Depletion is a CONTRA-ASSET for NATURAL RESOURCES (timber, gas, oil, minerals, etc), so it increases with a CREDIT. |
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Term
Rent Expense is a/an ___________,
so it increases with a ____________. |
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Definition
Rent Expense is an EXPENSE,
so it increases with a DEBIT. |
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Term
Employee Wages are a/an ___________,
so they increase with a ____________. |
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Definition
Employee Wages are an EXPENSE,
so they increase with a DEBIT. |
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Term
Prepaid Advertising is a/an ___________,
so it increases with a ____________. |
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Definition
Prepaid Advertising is an ASSET,
so it increases with a DEBIT. |
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Term
Unearned Revenue is a/an ___________,
so it increases with a ____________. |
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Definition
Unearned Revenue is a LIABILITY,
so it increases with a CREDIT. |
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Term
Goodwill Impairment is a/an ___________,
so it increases with a ____________. |
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Definition
Goodwill Impairment is an EXPENSE,
so it increases with a DEBIT. |
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Term
Depreciation, Depletion, and Amortization are __________,
so they increase with ______________. |
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Definition
Depreciation, Depletion, and Amortization are EXPENSES,
so they increase with DEBITS. |
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Term
Bonds are a/an __________,
so they increase with ______________. |
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Definition
Bonds are a LIABILITY,
so they increase with CREDITS. |
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Term
Office Supplies are a/an __________,
so they increase with ______________. |
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Definition
Office Supplies are an ASSET,
so they increase with DEBITS. |
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Term
Merchandise Inventory is a/an __________,
so it increases with ______________. |
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Definition
Merchandise Inventory is an ASSET,
so it increases with DEBITS. |
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Term
Goodwill is a/an __________,
so it increases with ______________. |
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Definition
Goodwill is an ASSET,
so it increases with DEBITS. |
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