The left side of an account is known as ___ and the right side as ____
A. Debit, Credit
B. Credit, Debit
C. Liability, Asset
D. None of the above
Answer: Option A
Solution(By Examveda Team)
The left side of an account is known as Debit and the right side as Credit. Asset accounts such as Cash, Accounts Receivable, Inventory, and Equipment should have debit balances. Liabilities are on the right side of the accounting equation.This Question Belongs to Commerce >> Accounting
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