Table of contents

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1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Types of Accounting

Financial Accounting

1. Introduction to Accounting

Types of Accounting

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Multiple Choice

Which of the following types of accounts increases with a credit?

Asset account

Expense account

Liability account

Dividend account

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Verified step by step guidance

Understand the basic accounting equation: Assets = Liabilities + Equity. This equation helps categorize accounts and their behavior in terms of debits and credits.

Learn the rules of debits and credits for different account types: Assets and Expenses increase with debits, while Liabilities, Equity, and Revenue increase with credits.

Identify the account types mentioned in the problem: Asset account, Expense account, Liability account, and Dividend account. Recall that Liability accounts increase with credits.

Review the behavior of Dividend accounts: Dividend accounts are part of Equity but decrease Equity when debited, so they do not increase with credits.

Conclude that among the options provided, the Liability account is the correct answer because it increases with a credit, aligning with the rules of debits and credits.