Concept – Increasing Liabilities/Assets

Financial Accounting and Intermediate Accounting

Spiceland, Nelson, and Thomas and Spiceland, Thomas, and Herrman

05th Edition, 06th Edition, and 10th Edition

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To increase a liability, credit/debit the liability account and to increase an asset, one should credit/debit the asset account.

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  • Search Terms: _____ _______ a account account. multiple an and asset asset, choice credit credit; debit debit debit; increase liability liability, one question. debit; should the to
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