Question

Increase an asset and increase propritorship​

Answer 1

Answer:

Debits and credits can either increase or decrease an account, depending on the type of account (a commonly confused concept on accounting tests!). A debit entry increases an asset account, while a credit entry decreases an asset account, according to Accounting Tools.

Answer 2

Answer:

Increase in asset and increase in owner's equity. iv. Introduction of capital by the proprietor increases asset (cash or bank) and also liability

Explanation:

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