Credit in ledger means ___ .

Entries on right hand side

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A decrease in liabilities

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An increase in expenses

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An increase in assets

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Solution

The correct option is A Entries on right hand side
Credit in ledger means " Entries on right hand side".

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Similar questions

Give an example for each of the following types of transaction.
(i) Increase in one asset, decrease in another asset.
(ii) Increase in asset, increase in liability.
(iii) Increase in asset, increase in owner's capital.
(iv) Decrease in asset, decrease in liability.
(v) Decrease in asset, decrease in owner's capital.
(vi) Decrease in liabilities, increase in owner's capital.
(vii) Increase in one liability, decrease in another liability.
(viii) Increase in liabilities, decrease in owner's capital.

Q. Give one example of each of the following transactions:
(i) Increase in an asset and a liability.
(ii) Decrease in an asset and a liability.
(iii) Increase in assets and capital.
(iv) Decrease in assets and capital.

Which statement shows the increase and decrease in various assets, liabilities and capital in two or more balance sheets of the same business enterprise on different dates?

Q. All increases or decreases in the value of assets and liabilities are recorded in account.

Which receipts of government budget are referred to when there is neither the increase in liability nor the decrease in assets?

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Credit in ledger means ___ .

The correct option is A Entries on right hand sideCredit in ledger means " Entries on right hand side".

The correct option is A Entries on right hand side
Credit in ledger means " Entries on right hand side".