Increase in liability will be recorded in _______ side of liability account

Credit

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Debit

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Both A & B

No worries! We‘ve got your back. Try BYJU‘S free classes today!

None of these

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A
Credit

Increase in liability will be recorded in credit side of liability account

Suggest Corrections

Similar questions

If a transaction has the effect of decreasing an asset, is the decrease recorded as a debit or as a credit? If the transaction has the effect of decreasing a liability, is the decrease recorded as a debit or as a credit?

Increase in liability will be shown on ______ side of an account.

Q. If there is an increase in the value of the liability, then account will be debited, and account will be credited.

When a liability is reduced or decreased, it is recorded on ___ in the journal.

Q. Increase in value of a liability at the time of admission of a partner is _____________.

Join BYJU'S Learning Program

Increase in liability will be recorded in _______ side of liability account

The correct option is A Credit Increase in liability will be recorded in credit side of liability account

The correct option is A
Credit

Increase in liability will be recorded in credit side of liability account