A debit entry to an account will
1. Always decrease the account balance.
2. Always increase the account balance.
3. Increase the balance of a revenue account.
4. Increase the balance of an asset account.
A debit entry to an account will
1. Always decrease the account balance.
2. Always increase the account balance.
3. Increase the balance of a revenue account.
4. Increase the balance of an asset account.
Related questions
For each item described: Identify the type of account (Asset,Liability, Equity, Revenue or Gain, Expense or Loss), normalbalance (Debit, Credit), financial statement (Balance Sheet, IncomeStatement), and whether the account is closed at the end of theperiod (Yes, No) by selecting the letter that best describes thoseattributes. If an account is a contra account, the answer will showthe account type in parentheses. Answer items may beused once, more than once, or not at all.
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