Debit means increase.

Debit

An entry on the left side of an account, representing an increase in assets or expenses, or a decrease in liabilities, equity, or revenue.

Increase

An uptick or rise in a statistical value or quantity.

Acquire knowledge about the principal parts of income statements and their classification.

Verified Answer

May 29, 2024

Final Answer :

False

Explanation :

Debit means decrease, while credit means increase.

Learning Objectives

Acquire knowledge about the principal parts of income statements and their classification.