Practice Quiz

Veterinary Practice Manager

Category - CVPM

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A debit entry in an account record may signify which of the following?
  1. An increase in an asset account
  2. An increase in a liability account
  3. A decrease in an asset account
  4. Both A & B
Explanation
Answer: A- A debit entry in an account record may signify an increase in an asset account, or a decrease in a liability account.
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