Debit and Credit Rules Quiz

When it obtains a benefit (correct)

When it provides a benefit

When it has a responsibility to return a benefit in the future

When it creates an asset

When it has a responsibility to return a benefit in the future

When it provides a benefit (correct)

When it creates a liability

When it obtains a benefit

When the asset provides a benefit

When the asset is sold or disposed of

When the asset is created or purchased (correct)

When the asset has a future responsibility

<p>When the business has a responsibility to return a benefit in the future (B)</p> Signup and view all the answers

<p>Obtaining a benefit (D)</p> Signup and view all the answers