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Shelby Storie
on Nov 18, 2024

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Expenses follow the same debit and credit rules as

A) revenues
B) assets
C) none of these
D) liabilities

Expenses

Costs incurred in the process of earning revenues, generally categorized as operating or non-operating.

Debit

An accounting entry that increases assets or expenses or decreases liabilities, equity, or revenue.

Credit

The granting of a loan and the creation of debt; any form of deferred payment.

  • Achieve proficiency in the rules of debits and credits within accounting practices.
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AS
ARSHDEEP SINGHNov 23, 2024
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