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A credit may signify a(n): a) Increase in assets b) Increase in liabilities c) Decrease in capital d) Decrease in re
A credit may signify a(n): a) Increase in assets
b) Increase in liabilities
c) Decrease in capital
d) Decrease in re
Expert Solution
A credit may signify an increase in liability. Since to decrease the liability we have to debit the laibility.
So we can say that a credit may imply "An increase in liability"
Conclusion
Hence the correct option is "b) Increase in liabilities"
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