Asked by Branevi Pakeerathan on Jul 09, 2024
Verified
The right side of any account is the:
A) debit side.
B) credit side.
C) ending balance.
D) beginning balance.
Credit Side
The right side of an accounting ledger where credits are recorded, often indicating a decrease in assets or an increase in liability or equity.
Debit Side
The Debit Side of an account records increases in assets or expenses and decreases in liabilities, equity, and income in double-entry bookkeeping.
- Acquire knowledge of the essential elements of debits and credits in accounting.
Verified Answer
CT
Consuelo TaverasJul 13, 2024
Final Answer :
B
Explanation :
The right side of any account in double-entry bookkeeping is the credit side. Credits increase liabilities, revenues, and equity accounts, while decreasing asset and expense accounts.
Learning Objectives
- Acquire knowledge of the essential elements of debits and credits in accounting.