Question

question ①
which of the following is true for debits and credits?
answer
○ none of the above.
○ debit means decrease and credit means increase.
● i am sure
debit means left and credit means right.
○ debit means increase and credit means decrease.
○ i dont know yet

Explanation:

In accounting (a subfield of Business), the terms "debit" and "credit" refer to the left and right sides of an account, respectively. The effect of debit or credit (increase or decrease) depends on the type of account (asset, liability, equity, revenue, expense). So "Debit means left and Credit means right" is a fundamental and always - true statement about the positioning of debits and credits in an account. The other options are incorrect because whether debit/credit means increase or decrease is account - dependent, not a universal rule.

Answer:

The correct option is the one with "Debit means left and Credit means right." (the option with the blue dot and the text "Debit means left and Credit means right.")