Answer to Question #121563 in Accounting for Everlyn

Question

Which statement about transferring funds between 2 assets accounts is true?
A. Debit the account that's increasing & credit the account that's decreasing.
B. Credit the account that's increasing & credit the account that's decreasing.
C. Credit both the account that's increasing & credit the account that's decreasing.

Which statement about deleted & voided transactions is true?
A. Both are recorded & become part of the overall records.
B. Both are removed from the overall records.
C. Voided transactions are removed; deleted transactions are recorded & become part of the overall records.

Which of these accounts has its own register?
Sales, rent expense, or opening balance equity

Answer 1

A.

A.

opening balance equity